nasdaqdwac
What’s New In Activism – Digital World Not Paying UpBackers of the blank-check company trying to take Donald Trump’s social media company public failed to pay the proxy solicitation firm they hired to drum up shareholder support. According to the Financial Times, Digital World Acquisition Corp (NASDAQ:DWAC), a special purpose acquisition company set up by Patrick Orlando, has not paid Saratoga Proxy Consulting for its work helping to rally shareholders, citing “people familiar with the situation.” Q2 2022 hedge fund letters, conferences and more Short sellers Kerrisdale Capital Management and ...
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What’s New In Activism – Third Point Backtracks On ESPNThird Point Partners’ Dan Loeb backtracked on his push for a spinoff of sports broadcaster ESPN after parent Walt Disney rejected the idea. Over the weekend, Walt Disney CEO Bob Chapek told several media outlets that he had confidence in ESPN’s value within the media group. Q2 2022 hedge fund letters, conferences and more A month ago, Loeb said in a letter to Chapek that he planned to push for a string of changes at Disney. The activist argued spinning off ESPN would allow Disney to reduce its $46-billion debt load. Loeb also called on Dis...
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Kerrisdale Capital is short shares of Digital World Acquisition Corp. (NASDAQ:DWAC), a SPAC valued at over $8bn on a pro forma basis, because we believe it will never secure the necessary regulatory approval to close its proposed merger with Trump Media & Technology Group (TMTG). While recent pressure on DWAC shares has been attributed to the executive exodus at TMTG and Elon Musk’s interest in acquiring Twitter, DWAC’s stock has much further to fall given the demonstrably misleading statements in DWAC’s registration statement, the status of TMTG’s operations at the time the merger agreement w...
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Whitney Tilson’s email to investors sharing his predictions for 2022. Q3 2021 hedge fund letters, conferences and more Predictions For 2022I'd like to make some predictions for 2022... I remain constructive on the market, but don't expect another year of 20%-plus returns. The U.S. market is up more than 17% annually over the past five years and more than 16% a year over the past decade, far above the long-term average annual returns of 9% to 10%. This has lulled investors into lofty expectations which almost certainly won't come to pass. As always, my advice is to concentrate your portfolio in...
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Whitney Tilson’s email to investors suggesting to avoid Digital World Acquisition Corp (NASDAQ:DWAC); Tether fails to dispel mystery on Stablecoin’s crucial reserves. Q3 2021 hedge fund letters, conferences and more Avoid Digital World Acquisition1) In my October 22 e-mail, I warned my readers away from the shares of Digital World Acquisition (DWAC), a special purpose acquisition company ("SPAC") that had announced a deal to partner with a company owned by former President Donald Trump, Trump Media & Technology ("TMTG"), to launch a social media company called TRUTH Social. I wrote: To be clea...
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Whitney Tilson’s email to investors discussing how Facebook neglected the rest of the world, fueling hate speech and violence in India; Porter Stansberry and Whitney Tilson debate Facebook, Inc. (NASDAQ:FB); Chamath Palihapitiya on Digital World Acquisition Corp (NASDAQ:DWAC); the 2021 Stansberry Conference & Alliance Meeting. Q3 2021 hedge fund letters, conferences and more How Facebook Neglected The Rest Of The World1) I think Facebook (FB) and the major services it owns, Instagram and WhatsApp, do a lot of good. I use all three almost every day to help me connect with old friends, make new ...
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