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  "documentTitle": "WD-40 Company (WDFC)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-04-02 00:00:00",
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  "notes": "Includes a testimonial-style quote from a former employee and photographic evidence of shelf placement.",
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      "text": "It’s very evident from our primary research that PB Blaster is intensely competing for shelf and advertising space with WD-40 at very low price points.",
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      "text": "Spruce Point believes that WD-40 is facing increased pressure in the national specialty auto channel, dominated by players like AutoZone and Advance Auto Parts. Based on our research, PB Blaster has become a formidable competitor.",
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      "text": "Spruce Point: “Is there anything in the competitive environment that’s changed or should worry a WD-40 investor?” Response: “I would definitely research a company called PB Blaster to see what they’re doing.”",
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      "text": "Spruce Point: “Is there anything in the competitive environment that’s changed or should worry a WD-40 investor?” Response: “I would definitely research a company called PB Blaster to see what they’re doing.” — Former WD-40 Employee",
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      "text": "1) AutoZone has reduced hours during the virus crisis. Source: Spruce Point research, Q2 2020",
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      "text": "Key Auto Market Channel Becoming More Competitive",
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