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Campaigns / Spruce Point Capital → XPO Logistics, Inc.
Spruce Point Capital vs. XPO Logistics, Inc.

XPO Logistics, Inc. · XPO

1 deck published between 2018-12-13 and 2018-12-13 — 68 pages, 68 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. 2018-12-13 initial thesis

    2018 12 64e7a6de3a06563d1f236af6_xpo_research_thesis_12 13 2018

    68pp · full_deck

    XPO is a United-Rentals-style roll-up masking financial strain with aggressive accounting and a felon-linked board; normalized EPS is 47% overstated, implying 40–60% downside.