Callouts & quotes from 553+ activist slides

"Chinese Distributors confirm that “Hourly Consulting Fees” are far more lucrative than selling products to retail customers"

"According to the prospectus filed in November 2019, insiders and former shareholders have been selling shares aggressively."

"We rate American Tower Corp. (NYSE: AMT) a Strong Sell and value it at $44.57 per share, representing a downside of 40.3%."

"Low conversion rate shows that website and mobile app user data does not mean Canadian Tire is able to sell to those users"

"As shareholders, and as customers, we would like to see Nintendo develop and sell games for the iOS and Android platforms."

"Appendix – Relevant Articles from the Chinese Direct-Selling Law, Pyramid Sales Law and Criminal Law relating to Pyramids"

"Dozens of vendors like Sony, Thermo Fisher, and others sell cytometers, typically for $75-100K vs. BLI’s Beacon at $2MM."

"BLI has peaked; losing ground and “not selling many instruments”; competitors view their volumes as “a bloody disaster.”"

"At the Q2 2019 call, a sell-side analyst also noticed the lower than projected reagent revenue per system (utilization)."

"The issues cited represent serious and harmful corporate practices in service of continuing to sell a troubled product."

"In the past two years, we estimate insiders have monetized £1 billion, net, via selling, collaring, and pledging stock."

"Follow the money: the trust holding employee stock has been selling the past three years: from 3.6 > 3.3 > 2.9m shares."

"Management has indicated it would sell the International business (franchising) if it can't be fixed in a timely manner"

"ADP’s competitive weakness is masked partially by “sell-in” driven by recent industry trends toward HCM Beyond Payroll"

"Spruce Point frequently sees insider selling paired with accelerated buybacks among companies under increasing strain."

"Spruce Point frequently sees insider selling paired with accelerated buybacks among companies under increasing strain."

"Twist tried to get share by selling at “half or a quarter” of prevailing prices; giving money away to buy market share"

"Why did Ströer sell back such a large stake of ECE flatmedia back to the original seller so soon after acquiring them?"

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

"Regardless, this is not what TRE is really doing. It is lying about selling such large volumes of timber to the AIs."

"At issue: the pending expiration of the key patents preventing others from selling K-cups for use in Keurig machines"

"In activist short selling, such a kneejerk reaction from a company is often a strong validation of the short thesis."

"Contrary to Red Cat’s grandiose claims, the opportunity to sell Red Cat drones outside of the US Army is negligible."

"We believe the owners are likely to continue selling shares which could act as an overhang on the upside potential."

"In our view, insiders at the company seem to possess Paul Pelosi-like timing when it comes to selling their stock."

"Xerox shareholders are selling ~$535 million of normalized annual recurring net cash flow for just ~$1.25 billion"

"Twist’s NGS business model is to slash prices on panels and upsell a library prep kit that they’re a reseller for"

"The first reason SCP Reflects seems improper is that Pietroni bought it only eight days before selling it to CPI."

"Kratos has historically used a very aggressive definition of backlog to sell investors on its investment merits."

"Our Research Shows That GreenPower Motors Isn't Really An Electric Bus Manufacturer, But Is An Importer/Reseller"

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

"Carvana sells its receivables to third parties after originating auto loans associated with its vehicle sales."

"Logically, one cannot sell an asset and simultaneously pledge it as collateral in a new borrowing arrangement."

"The majority of sell-side analysts are bullish on Stryker, and the consensus view calls for another 5% upside."

">Wakix’s only selling point – that it’s not a controlled substance – was dismissed by physicians as irrelevant"

"We think the wisest thing any investor can do is imitate management and sell this stock while it is still hot."

"Unparalleled record of seeing through the stock promotion hype machine with insightful short-selling opinions"

"Unparalleled record of seeing through the stock promotion hype machine with insightful short-selling opinions"

"This seemingly violates U.S. OFAC sanctions for which we understand the U.S. seller would be strictly liable."

"Management and bullish sell-side analysts like to tout the so-called “well economics” which show great IRRs."

"Beware of overly glowing “upside” carrots from sell-side brokers that haven’t fully explored past history..."

"It does not seem that the sell-side considered the positive effect Helly Hansen had on retail gross margin."

"The insights we gathered are not as "bullish" as the promotional sell-side analysts would have you believe."

"The peculiarity of how EGH was able to sell a property to IIPR before even owning it is already disturbing."

"Selling product online is not unique to FIGS. There are many DTC brands and major online shopping options."

"AMT would be at risk of abetting the selling shareholders, who are Brazilian, in committing tax fraud."

"Only Procept’s poor recent stock performance has created meaningful upside to sell-side price targets."

"Despite all its hyperbole, Pure has thus far failed to get a toehold selling AFAs into hyperscalers."

"We reiterate a "Strong Sell" opinion on DV with 35% - 45% ($15.90 - $18.80 per share) downside risk."

"After Vitek Couldn't Sell the Villa, He Stuffed CPI PG With It While Pocketing at Least €10 Million"

"we believe Yahoo should hire a financial advisor to sell the Core Business as a taxable asset sale."

"I think they sell between 60 and 80 engines a year and they report 95% into the Aerospace business."

"Manufacturers that represent over 56% of global PC shipments don't sell printers on their websites"

"FMCN's partial response to our 80-page November 21, 2011 report reinforces our Strong Sell rating."

"Spruce Point Believes U.S. Concrete (Nasdaq: USCR) Is A "Strong Sell" With 60% - 90% Downside Risk"

"Shouldn't a "presence" at most major retailers mean HIMS is poised to actually sell MORE product?"

"Insiders Are Primed To Sell: We Estimate 55% - 80% Downside Risk Potential To Bunge's Share Price"

"The Rollins Family Is Selling While ROL’s Valuation Is Excessive: We See 30% – 40% Downside Risk"

"Follow the money carefully, especially when both its largest owner and management sell together"

"Starboard's Plan Sells Yahoo At The Lows; Our Plan Unlocks Meaningful Upside for Shareholders"