short seller – Page 2 – Financial Treason & Crime

Nichola Saminather, 04 January 2018

Canadian marijuana producer Aurora Cannabis Inc on Wednesday dismissed claims from short-seller Citron Research that its stock was set to decline due to problems with its business model. Citron earlier on Wednesday said Aurora shares are poised to shed half their value. Aurora shares on Wednesday closed up 20 percent at C$14.18. They hit a 52-week low of C$1.90 in June.

Citron said in a report posted on Twitter that Aurora lacks a path to profitability, is spending too heavily on acquisitions and that stock sales by company insiders show a lack of confidence in the company’s future.
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07/20/201702/27/2021

Article: Short-seller calls Manitoba-based company ‘ticking time bomb’

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Short-seller calls Manitoba-based company ‘ticking time bomb’

Kristin Annable, Katie Nicholson, Vera-Lynn Kubinec, 20 July 2017

A Manitoba-based company targeted by a U.S short-seller put on a brave face for investors Thursday, presenting a second-quarter report it says shows it’s on the path to a record-breaking year Exchange Income Corp.’s quarterly results were released under a cloud, announced ahead of schedule after Marc Cohodes revealed he was betting against EIC’s stock earlier this month.

“The reason to report earlier was driven by the uncertainty in the marketplace, and we felt the best way to relieve this uncertainty was with facts,” CEO Michael Pyle said Thursday in a teleconference with investors. The uncertainty was driven by Cohodes’s aggressive short campaign, dubbed Mayday EIF Dividend (the company’s name on the stock market), which carries a host of allegations against the company.
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07/05/201702/27/2021

Article: Short seller Marc Cohodes now bets against Exchange Income Corp.

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Short seller Marc Cohodes now bets against Exchange Income Corp.

Jonathan Ratner, 05 July 2017

Exchange Income responded, calling the attack a “short and distort campaign” aimed at undermining the value of the company’s shares. “The short report was deliberately released immediately following the end of the company’s second quarter when EIC is in a quiet period, and is based on a number of statements, assumptions and opinions with which we strenuously disagree,” Exchange Income said in a press release. Cohodes said the company has increased its debt load by $427 million over the past five years, and issued more than $230 million of shares to fund its roughly $700 million deficit.
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10/27/201603/01/2021

Article: Cohodes vs Home Capital: Testing the short seller’s claims

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Cohodes vs Home Capital: Testing the short seller’s claims

Amber Kanwar, 27 October 2016

San Francisco-based short seller Marc Cohodes has been shorting Home Capital Group since 2014. He made a number of claims, and raised questions, about Home Capital in an interview with BNN this week. We gave the mortgage lender an opportunity to respond. Below, you’ll find Home Capital’s comments.

Cohodes says Operation Trillium was Home Capital’s response to discovering mortgages that had poor underwriting standards. He believes it was initiated a year before the suspended brokers were announced. “[Operation Trillium] is somewhere between a cover up and a remediation effort,” said Cohodes in an interview with BNN. He believes it was initiated a year before Home Capital disclosed the suspended brokers.

Home Capital did not confirm the existence of Operation Trillium and instead provided this comment: “We refer investors who are interested in the facts to our quarterly disclosure, which includes information on the performance of the mortgages originated by the suspended brokers, the value of loans outstanding that were originated by those brokers, and the progress of our review of those mortgages.”
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