◆ Contrarian Corpus
Campaigns / Muddy Waters → St. Jude Medical, Inc.
Muddy Waters vs. St. Jude Medical, Inc.

St. Jude Medical, Inc. · STJ

2 decks published between 2016-08-25 and 2016-08-29 — 40 pages, 40 analysed slides total.

initial thesis follow up

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2016-08-25 initial thesis

    2016 08 MW_STJ_08252016_2

    34pp · research_note

    St. Jude's $23B cardiac-device franchise rests on a Merlin ecosystem so insecure that hackers can crash pacemakers from 50 feet — a recall and two-year remediation imply 50%+ downside and likely covenant breach.

    N 5 V 2 C 2
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  2. 2016-08-29 follow up

    2016 08 MW_STJ_08292016

    6pp · research_note

    STJ's rebuttal to Muddy Waters' cybersecurity short report is 80% fluff and 20% substance, with admissions and deception cues that confirm its cardiac devices remain unsafe and need recall.