Callouts & quotes from 26,677+ activist slides

"PROFITABILITY IN THE “BEST YEAR IN HUNTSMAN’S HISTORY” CONTINUES TO BE EMBARASSINGLY BAD WHEN COMPARED TO PEERS"

"Astra's investor pitch boils down to selling the pipedream of an unprecedented number of cheap rocket launches."

"Wow, it's like Zymergen too here. All the same stuff is happening, except it's happening even faster at Ginkgo."

"Because Huishan has not been self-sufficient in producing alfalfa, the reported outsize margins are fictitious."

"Were the cow sale leaseback transaction to fail, it would could put Huishan’s entire capital structure at risk."

"MGPI's barreled whiskey inventory is rapidly rising, while sales are declining, and inventory turnover plunges."

"Spruce Point believes that at least 45% of Verint’s Non-GAAP Net Income is attributed to unjustified add-backs."

"Fastest Growing Fire Inspection Business Operating Fraudulently While Putting Lives At Risk; Competition Rising"

"Spruce Point has always warned to be wary when the relationship between the Company and auditor are very close."

"We are paying attention to a possible transition from banks rejecting depositors to depositors rejecting banks."

"Eurofins supposedly overpaid for operating businesses in order to subsidize Dr. Martin's real estate purchases."

"But the success was fleeting: "almost all Nevro devices" have since been explanted and doctors soured on Nevro."

"Despite starting from a lower base, Kao’s growth target for Curél through to 2027 (8% revenue CAGR) lags peers."

"In K20 (announced in 2017), Kao aimed for an operating margin of 17% by 2030. Now, Kao does not set a target..."

"Modernized PSC terms could unlock material value through accelerated investment and expanded resource potential"

"When Bayer announced this corny acquisition, the stock collapsed to 85 Euros per share, or only 11.3x earnings."

"Lifecycle management involves tweaking a drug just enough to make it eligible for a new patent or an extension."

"In our experience, allocated corporate overhead is often multiples larger than the unallocated amount disclosed"

"Based on the filings footnotes, "these equity securities were subsequently sold in the second quarter of 2021.""

"The widespread use of the 30-year fixed-rate mortgage differentiates the U.S. from other large mortgage markets"

"Shareholders should support CalSTRS' proposal asking the Board to effectuate a separation of the Steel business"

"Nova is being promoted by RedChip, a company that provides IR services to many speculative small-cap companies."

"It is more accurately a racket, the closest we’ve seen in the public markets to a Mafia-style extortion scheme."

"The Independent Peer Group's median market cap and revenue are well within both ISS and Glass Lewis guidelines."

"Do they do this to artificially deflate their headline capex figure, thereby inflating reported free cash flow?"

"IRBT doesn't have many jobs openings, but a currently advertised job for a Senior Auditor caught our attention!"

"A parent indicated “my son had allergic reaction and has been in hospital 4 days so we don’t be continuing it.”"

"Mechanism of action – “increases histamine levels in the human brain” – is unproven and hence false advertising"

">A PK failure that never should have made it past phase 1 – underestimated plasma levels are key driver of risk"

">Even if Wakix increased histamine levels, Bioprojet admits it has no correlation with narcolepsy or sleepiness"

"We contend that the reclassifications were premature and highly aggressive, and that the gains are unjustified."

"Mettler can only "estimate" the project completion as measured by users and it can't keep its figures straight."

"There are myriad issues with the Company's response, the most important of which is that it is simply not true."

"Assuming management continues to make attractive acquisitions, Valeant trades at a large discount to fair value"

"Only a handful of public healthcare companies have durability comparable to Valeant's durable product portfolio"

"Companies highlighted in red have either already filed for bankruptcy, or extreme high risk of default in 2023."

"Since the IPO on the London Stock Exchange in May 2013 to January 20, 2017, PAH's share price has increased 11%"

"The price has gone up significantly by $800K, or 67% in three days, representing an annualized return of 8151%."

"In Morinda's, case, we estimate that Morinda's revenues from China are inflated by 36% in 2017 and 51% in 2016."

"We expect Focus Universal to post revenue of $2 million in 2021, $45 million in 2022, and $150 million in 2023."

"In Morinda's, case, we estimate that Morinda's revenues from China are inflated by 36% in 2017 and 51% in 2016."

"We believe we have found an even better short than OMNT with potential for a 90%+ decline in the next 6 months."

"Two of the three portfolio fair value gains are from portfolios managed by related parties, and are suspicious."

"Valeant shares have declined 83% from our average cost of $196 per share at announcement date to April 21, 2016"

"Could it be that all the low hanging fruit is gone, and every subsequent sale will be harder and harder to get?"

"It therefore requires a vacuum and uses a series of reflective mirrors, instead of using lenses to focus light."

"Momentum is accelerating organically, without material ad spend, highlighting Kalshi's disruptive risk to DKNG."

"This represents ~79% of the weekly NCAA football handle that the OSB operators generated during Sept.-Dec. ‘24."

"That is very fraudulent for them to do that video... I suspect neither of these pictures are from that machine."

"In our view, this tortured construction defies common sense, and, at a minimum breaches the spirit of the law."

"The telephone hotline for Party A's Audit Investigation Department is: 010-62605388; Email: wubi jubao@xdf.cn."

"In its recent 2020 10-Q filings, it now ceases disclosures of R&D expenses, which we view as a major red flag."

"In our opinion, Dovigi’s success from aspiring NHL goalie to garbage magnate is a carefully curated narrative."

"GFL’s longest tenured Director is Dino Chiesa. We find him connected to Mr. DiBattista on Facebook as friends."

"GGP’s share price was flat, including dividends, from the beginning of 2014 to the date we exited the position"

"Regardless, our Balance Sheet approach shows that (non-GAAP) Subscribers do not seem to tie to GAAP financials"

"There are other recent incidents where Generac’s products allegedly sparked a fire and caused bodily injuries."

"Why do Pramac-Generac UK’s disclosures not reveal that it made €17.5m of purchases from PR Industrial (Italy)?"

"Since October 2015, no current director or executive has purchased a single share of stock in the open market."

"Lowe's level of same-store sales growth has underperformed Home Depot's for eight out of the last ten quarters"