Callouts & quotes from 26,677+ activist slides

"Two months later, on March 28, 2012, Stable Energy Resources assigned mineral rights to SandRidge in adjacent acreage"

"Two months later, on March 28, 2012, Stable Energy Resources assigned mineral rights to SandRidge in adjacent acreage"

"Two months later, on March 28, 2012, Stable Energy Resources assigned mineral rights to SandRidge in adjacent acreage"

"Box has conflated segmentation with stratification, which has resulted in poor cost-to-serve and resource deployment."

"The RTC Plan calls for a 46% increase in the dividend to $7.00 per share in 2021 and growing 7-8% annually thereafter"

"Unlike its two better-performing peers, Crown Castle does not report its own ROIC metric to the investment community."

"So there are clearly 2 or 3 more points of margin improvement available in the Dealer market over a planning horizon."

"Bolloré's contempt for good governance makes any slate put forward by him, or his controlled companies, unsupportable"

"SNAP is now trading at its largest-ever discount to social media peers despite generating the fastest revenue growth."

"The most heavily shorted social media site offers a compelling opportunity for investors as even no news is good news"

"While seeking a transaction for PSTH, we are simultaneously looking to improve its structure with the launch of SPARC"

"Canadian Tire's shipping fees are the worst among its competitors as CTC is the only peer not to offer free shipping."

"Given Canadian Tire's dependence on leverage to fuel its business model, how are its credit agreements not "Material""

"Darden must bring back the operational focus it once had to reduce food costs while enhancing the customer experience"

"We believe Darden's properties are worth more separated from Darden than the "rent subsidy" is worth inside of Darden"

"We remain cautious on the name, given significant uncertainty over Goodyear’s market share and pricing/profitability."

"Throughout Quantumscape’s entire presentation, we don’t see any Coulombic efficiency numbers. That’s a huge red flag."

"The battery space has a long history of stock scams based on exaggerated or false claims of a scientific breakthrough"

"Right now, some senior Canadian insurance executives are ruing a particular type of insurance contract from that era."

"CPI Very Questionably Doubled the Valuation of a Poorly Maintained Office Complex in Under Four Years to €199 Million"

"While this year's classification seems more reasonable, it is eclipsed by prior years' massive and unjustified gains."

"Philidor represented only ~1% of Valeant sales last year, but grew to ~7% of total revenue in the most recent quarter"

"We further observed a troubling level of hubris, a related trait prevalent in the leadership of frauds that we short."

"Of particular note and importance, IonQ’s CEO stated that they already “put our first customers onto the 32 in June…”"

"IonQ's system can only be used for "artificial," useless computations; can't do anything a prehistoric computer can't"

"Hess Has Underperformed: By Any Objective Measure, Over Any Relevant Time Period, and Against Any Pertinent Benchmark"

"Hess's inability to operate a rig program comparable to peers of its size results in $2.5 billion of forgone value..."

"In the four months since our initial contact with Valeant, we have performed significant due diligence on the company"

"It was unlawful because Lightsource BP had covertly tried to build a bigger solar farm than they had been allowed to."

"Pure is relatively poorly positioned to capitalize on the two largest technology themes of the day: the cloud and AI."

"BOOT's Same Store Sales trajectory and then decline largely resembles the western wear trend illustrated by Wrangler."

"One of the misleading slides that strongly implies that this PLA bag is a “PHA Customer Collaboration Case” is below."

"Darden must bring back the operational focus it once had to reduce food costs while enhancing the customer experience"

"We believe Darden’s properties are worth more separated from Darden than the “rent subsidy” is worth inside of Darden"

"But what they produce is not the same. For example, Marcellus wells recover 2.5 times more energy than Permian wells."

"The EIA projects the region to double from here by the end of the decade, and we’ve still just scratched the surface."

"This is a Razor / Razor Blade Model where GMCR will lose its ability to monopoly price its razor blade next September"

"Private label K-cup penetration could exceed private label coffee penetration today because of the price differential"

"WMB has considerably outperformed SE in the relevant time frame with sell-side valuing WMB’s GP IDR at 25x+ Cash Flow"

"If Recent Divestments Have Long Been Part of “5” Year Plan, Why Was Management Defending the Opposite Only Weeks Ago?"

"Hess's inability to operate a rig program comparable to peers of its size results in $2.5 billion of forgone value..."

"Your inability to manage this company is becoming clearer every day...I suspect your days as CEO of BWLD are numbered"

"I had customers call me and say "I'll never go back into the stores" because the culture had changed their experience"

"We believe Riot is on its way to a transformation from a bitcoin miner to a best-in-class AI/HPC data center company."

"Management claimed synergies were now 190-200% deployed and Firth Rixson was "on a good path" to hitting 2016 targets"

"Maybe the "gradual" increase in MedAssets' shareback rate wasn't really so gradual on a contract-by-contract basis..."

"We believe trading comparables outside of traditional healthcare can be useful for valuing Valeant’s durable business"

"We believe trading comparables outside of traditional healthcare can be useful for valuing Valeant's durable business"

"AMR's Coal and met segment revenues could be overstated by at least $107 million by including third party coal sales."

"Management's "rosy" commentary in its recent investor presentation flies in the face of the Company's recent results."

"In contrast to the Company’s nominees, Engine’s slate understands what is required to produce operational excellence."

"It is unfortunate Darden's current Board has chosen a scorched earth strategy for protecting their selfish interests."

"Lack of organizations or systems to advance engine development and production in compliance with laws and regulations"

"TICO should stop future investments until economics are acceptable and above TICO’s high-single-digit cost of capital"

"For modeling purposes, we have assumed a 20% IPO of McOpCo and the proposed share repurchases occurred on 12/31/2005."

"We believe Skillz did not disclose these issues because they render the company's lofty revenue projections farcical."

"The only point of Twist's NGS offering is to sequence a small part of the genome given the cost of the entire genome."

"BK has experienced deposit inflow surges during market crises because clients view BK's balance sheet as a safe haven"

"The University of Michigan Survey of Consumer Confidence Sentiment Index has improved since the beginning of the year"

"APP CEO and CTO Blog Responses Lie About The Existence Of Persistent Identifiers And How It Breaks Data Privacy Rules"