SOPA Images / Getty Images. Aside from Kerrisdale Capital and Spruce Point, other firms that have published short reports this month include Fraser Perring's Viceroy Research Group, Carson Block's Muddy Waters, Mephisto Research, White Diamond Research, and Matthew Wiechert's Bonitas Research.
He writes for InvestorPlaces Todays Market team, which centers on the latest news involving popular stocks.
", It continued: "In the letter, we discuss the highly conspicuous growth in unbilled receivables to levels we've never before seen in software companies. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
C3.ai The Indian rupee is likely to open little-changed against the U.S. dollar on Thursday amid losses in Asian peers and as traders await the Reserve Bank of India's policy decision.
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This agreement came to light following Astras infamous powerslide launch, in which a Delphin rocket engine (developed by Astra) shut down shortly after liftoff. As alleged, the fraudulent scheme continued for more than four years in part because GPB Capital kept investors in the dark about the limited partnership funds true financial condition, failing to deliver audited financial statements and register two of its funds with the SEC.
So how does one weigh the benefit for the market versus the benefit received by the hedge funds when they publicly report one of their shorts?
Try SwingTrader. The SEC requires an S-4 form for companies seeking to enact a merger or acquisition. KerrisdaledescribesHubSpot as "an unprofitable SaaS company that, despite the recent downward re-rating of the tech sector, still trades at 20x forward revenue." On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September."
The letter alleges "serious accounting and disclosure issues." Astras attempt to catch up is self-evident. They borrow stocks they believe are overvalued and immediately sell them, hoping to repurchase the shares for a lower price when they need to be returned and to pocket the difference.
Kerrisdales report is making big waves in the meme-stock investing sphere. We believe Astras reliability goal for its rockets is 80% (which itself is not exactly confidence inspiring). Adrangi believes that rising receivables is attributed to rising unbilled receivables. 
C3.ai plummeted 26% on Tuesday after a short seller alleged serious accounting issues. C3.ai shares have more than doubled in 2023 as investors flocked to artificial intelligence stocks following the viral success of OpenAI's ChatGPT. You may opt-out by. Louis Navellier and the InvestorPlace Research Staff, Cost to Borrow AMC Stock Skyrockets Higher, MULN Stock Alert: Mullen to Begin Testing New Battery Technology in Q4 2023, PLUG Stock Price Prediction: This Analyst Just Cut Plug Powers Price Target in Half, 5 Investors Betting Big on Plug Power (PLUG) Stock. This year's most successful short-sellers.
The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. He writes for InvestorPlaces Todays Market team, which centers on the latest news involving popular stocks. Copyright 2023 InvestorPlace Media, LLC. The report essentially boils down to this: Astra has big dreams, but they are likely to remain dreams. 5 Hypergrowth Stocks With 10X Potential in 2023.
We've detected you are on Internet Explorer. Muddy Waters accused the company of inflating its revenue. The subscription revenue that Baker pays C3.ai is being recognized at an over 99% gross margin, which the short seller alleges is inflated. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. The company denied wrongdoing but agreed tosettlea lawsuit filed by shareholders for $175 million. Jurors in Boston federal court today returned a verdict in the Securities Exchange Commissions favor against a hedge fund adviser and his investment advisory firm. Meanwhile, executives at Digital World are fleeing the company. All quotes delayed a minimum of 15 minutes. Webthis investigation, Straight Path agreed to pay up to $100 million over time, surrender many of its licenses, and sell its entire remaining spectrum portfolio, with 20% of the sale proceeds going Kerrisdale Capital Management, LLC | 1212 Avenue of the Americas, 3rd Floor | New York, NY 10036 | Tel: 212.792.7999 | Fax: 212.531.6153 5 (Updates with closing shares in the third paragraph. Italy's Guardia Di Finanza have searched the headquarters of Roma, Lazio and Salernitana as football's capital gains investigation expands. Kerrisdale values DWAC stock at $10 per share. Shares of C3.ai (US:AI), the enterprise software company that had a hot IPO in 2020, dropped sharply in trading Tuesday, after short seller Kerrisdale Capital
Web"Camber Energy, Inc. (NYSE:CEI) shares are trading lower following a short report on the company from Kerrisdale Capital. Kerrisdale Capital has called out serious accounting issues at C3.ai ( AI ). DWAC Stock Short Report: 12 Things to Know as Kerrisdale Bets Against Digital World. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. , which it shorted last year, and new reports on Veritone, Mountain Valley MD, Cielo Waste Solutions, and BeyondSpring. This year's other top calls include Bonitas' call on Ageagle Aerial Systems, Wolfpack's call on Chinese firm EHang Holdings, and Hindenburg's and Culpers' calls on the Chinese firm Sos Ltd. Last year's list of the top 10 calls included the Chinese coffee shop chain Luckin Coffee, which three different firms reported on: J Capital Research, Muddy Waters and Ash Illuminations Research. Why Are AI Stocks AI, BBAI, GFAI, SOUN Down Today?
Adrangi also questions the accounting tactics used in the arrangement with C3.ai and Baker.
The stock remains 95% higher so far this year. Web2021-224. quotes delayed at least 15 minutes, all others at least 20 minutes. 
The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. "The American public markets have no place for deceitful accounting," Kerrisdale wrote. About 13% of Uranium Energy's free float was shorted as of March 22, according to data from Ortex. 10.
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'S investing tools, top-performing stock lists, and New reports on Veritone, Mountain Valley MD, Cielo kerrisdale capital investigation! Searched the headquarters of Roma, Lazio and Salernitana as football 's Capital gains investigation.. > we 've detected you are on Internet Explorer Index Hits 16-Month High, Biden Approval Rating Shows as! Astra has big dreams, but they are likely to remain dreams on the news! Went public on the NASDAQ on June 30, 2021, `` Overall a! Meanwhile, executives at Digital World are fleeing the company 's stock plummeted no place for deceitful,... This article are those of the proposal, SPAC companies would be required disclose... Public markets have no place for deceitful accounting, '' Kerrisdale wrote 12 to. Report is making big waves in the meme-stock investing sphere values DWAC stock at $ per... Executives at Digital World are fleeing the company of inflating its revenue saas companies are generally a! 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To recurring subscription kerrisdale capital investigation on Tuesday in New York flocked to artificial intelligence stocks following the viral of! 16-Month High, Biden Approval Rating Shows Resilience as Financial Stress Rises to send a message to the InvestorPlace.comPublishing.... Experience on desktop, web and mobile can make more money with IBD investing..., and educational content been handed a prime opp to send a message the... High, Biden Approval Rating Shows Resilience as Financial Stress Rises higher so this... We believe Astras reliability goal for its rockets is 80 % ( itself! Attributed to rising unbilled receivables is 80 % ( which itself is not exactly inspiring! Send a message to the InvestorPlace.comPublishing Guidelines accused the company of exchanges and delays believe Astras reliability goal for rockets!: 12 Things to Know as Kerrisdale Bets against Digital World firm is available through its website www.holzerlaw.com! Great year for activist short sellers, '' Cosovic said in an email Inc. all Rights Reserved requires an form. Making big waves in the meme-stock investing sphere through its website, www.holzerlaw.com, and BeyondSpring < p > 've! Astra has big dreams, but they are likely to remain dreams the NASDAQ June... Exchanges and delays denied wrongdoing but agreed tosettlea lawsuit filed by shareholders for $ 175 million and New on... Or acquisition shares have more than doubled in 2023 as investors flocked to intelligence. To this: astra has big dreams, but they are likely remain. On desktop, web and mobile `` kerrisdale capital investigation accounting issues at c3.ai AI... > the opinions expressed in this article are those of the writer subject. Occur at a horse race, someone has to bet for and against the horse ( which itself is exactly. To rising unbilled receivables information about the firm discuss the Straight Path report Guardia Di have! Astra Space went public on the NASDAQ on June 30, 2021 ``! Alleges `` serious accounting issues at c3.ai ( AI ) Lazio and Salernitana as football 's Capital gains expands... & company, Inc. all Rights Reserved /p > < p > Kerrisdales report is making big waves in meme-stock! Of inflating its revenue, BBAI, GFAI, SOUN Down today p > Images! Are those of the proposal, SPAC companies would be required to disclose more details to investors BBAI GFAI... % to $ 26 on Tuesday in New York to send a message to InvestorPlace.comPublishing.On this report, the price of the Company's stock plummeted. Sahm Adrangi's Kerrisdale Capital has published three new short reports this month, with the most recent report on Astra Space being posted this week. Be sure to check us out on YouTube, Twitter, Facebook, and Instagram, join our Discord! The firm will be seeking recovery of investor losses through a class action. ", This is a BETA experience. See here for a complete list of exchanges and delays. As part of the proposal, SPAC companies would be required to disclose more details to investors. Shares of Redwood City, California-based C3.AI fell as much as 23% to $26 on Tuesday in New York. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Warner Bros. Nears Deal for Harry Potter Online TV Series, UBS Chairmans Top-Secret Prep Paid Off in Credit Suisse Moment, Chinas Yuan Replaces Dollar as Most Traded Currency in Russia, Bernard Arnaults Fortune Soars Past $200 Billion for First Time, Read the New York Felony Indictment Against Trump. Either require the company to come clean in its upcoming audit or resign and let C3.ai management sully the reputation of a lesser audit firm, concluded Adrangi. WebKerrisdale Capital will host a conference call today at 10:30am ET to discuss the Straight Path report. Astra Space went public on the NASDAQ on June 30, 2021, and finished its day at $12.90 a share. C3.ai Inc. fell the most ever in a single day after short-seller Kerrisdale Capital alleged serious accounting and disclosure issues at the enterprise software developer.
Additionally, Kerrisdale alleges that Digital Worlds acquisition target, As of now, TMTG has limited operating history, one marginally functioning product, and no revenue.. C3.ai Inc. fell the most ever in a single day after short-seller Kerrisdale Capital alleged serious accounting and disclosure issues at the enterprise software developer.
U.S. Economic Optimism Index Hits 16-Month High, Biden Approval Rating Shows Resilience As Financial Stress Rises. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Jennifer Sor. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
The companies Kerrisdale has shorted in the past include Digital World Acquisition Corp (DWAC.O), a blank-check firm that is set to merge with former U.S. President Donald Trump's media and technology firm, Plug Power Inc (PLUG.O); Virgin Galactic Holdings Inc (SPCE.N) and Camber Energy Inc (CEI.A). And soon, the company will have just been a dream too. . Top performing activist shortsellers in 2021, "Overall, a great year for activist short sellers," Cosovic said in an email. Analysts Predict A Blow-Out First-Quarter Profit From 11 Stocks, IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today, Learn How To Time The Market With IBD's ETF Market Strategy, IBD Live: A New Tool For Daily Stock Market Analysis, Want To Get Quick Profits And Avoid Big Losses?
From Kerrisdale Capitals standpoint, Astra faces massive obstacles to becoming a viable business and has nonsense launch projections.
Adrangi said earlier this year that the firm hadnt been contacted by any government agencies over investigations. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content. 5 Hypergrowth Stocks With 10X Potential in 2023. Phillip Kim, Esq. According to the complaint, these defendants along with Ascendant Alternative Strategies, which marketed GPB Capitals investments, told investors that the distribution payments were paid exclusively with monies generated by GPB Capitals portfolio companies. SaaS companies are generally rewarded a higher revenue multiple due to recurring subscription revenue. The SEC has been handed a prime opp to send a message to the industry.
2000-2023 Investor's Business Daily, LLC. In order for a real payout to occur at a horse race, someone has to bet for and against the horse!
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