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Campaigns / Kerrisdale Capital → ACM Research, Inc.
Kerrisdale Capital vs. ACM Research, Inc.

ACM Research, Inc. · ACMR

1 deck published between 2025-01-29 and 2025-01-29 — 30 pages, 30 analysed slides total.

initial thesis

Timeline

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

  1. 2025-01-29 initial thesis

    2025 01 ACMR Kerrisdale

    30pp · research_note

    ACMR trades at 1.1x revenue while its 82%-owned Shanghai subsidiary ACMS trades at 6x — a sum-of-parts gap that implies a 10-bagger as China's WFE self-sufficiency drive accelerates.