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  "docSlug": "9551be67f14d",
  "documentTitle": "Perion Network Ltd. (PERI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-05-23 00:00:00",
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  "pageNumber": 52,
  "pageCount": 127,
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  "nextPage": 53,
  "slideType": "expose_contradiction",
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  "density": "dense",
  "nDataPoints": 24,
  "notes": "The slide uses a red flag callout to highlight the contradiction between management's past claims and current reporting practices.",
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      "kind": "callout",
      "text": "If transactional search intent is important as the CEO claims, why did Perion stop providing this chart?",
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      "kind": "chart",
      "text": "Search Advertising growth chart showing transactional search intent trend",
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      "text": "The CEO has referenced transactional search intent as important and growing in Q3 2021. The Company provided a slide showing its growth and referenced it in the next earnings report. However, going forward there has been no more discussion of transactional search or intent.",
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      "kind": "quote",
      "text": "So how come we're increasing our business? What is more important to pay attention is this. Transactional search intent. The whole word of search is divided into three. We call it informative, directional and transactional...",
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      "kind": "source-note",
      "text": "Source: Perion earnings announcements",
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      "kind": "title",
      "text": "If Transactional Search Intent Is Important, Why Did Perion Stopped Discussing It?",
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      "evidence": "The deck spends most of its pages exposing contradictions and inconsistencies in PERI's financials, partnerships, and growth story.",
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      "name": "Logic Chain",
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      "evidence": "The deck presents a series of logical and coherent arguments to build a case against PERI.",
      "position": 0,
      "objective": "To present a logical chain of evidence and reasoning to support the conclusion of significant downside risk to PERI's share price.",
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