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  "docSlug": "9551be67f14d",
  "documentTitle": "Perion Network Ltd. (PERI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-05-23 00:00:00",
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  "notes": "Uses a direct quote from an earnings call to frame the contradiction.",
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      "text": "Give the apparent materiality of this new product to recent financial results according to the CEO, we also believe it should provide enhanced disclosure to investors in its SEC filings.",
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      "kind": "paragraph",
      "text": "When asked recently in November 2022 what was driving the search businesses outperformance, Perion's CEO cited a new product called Microsoft Trends. We cannot find any product announcement or more information or references by Perion to this new product. Give the apparent materiality of this new product to recent financial results according to the CEO, we also believe it should provide enhanced disclosure to investors in its SEC filings.",
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      "kind": "quote",
      "text": "Now when it comes to the second question that has to do with what we are doing better when it come to search advertise. So what we are doing better very much has to do with our partners, Microsoft advertising. So Microsoft identified that there is the time and they are putting a lot of effort behind it, it has to do with new products that we launched during -- in this quarter, it's called Microsoft Trends. — Perion CEO",
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      "text": "Source: Perion Q2 2022 Conference Call",
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      "text": "Q3 2022 Earnings Call – November 9, 2022. Raymond James Question: 'I guess, could we drill down a little bit there because your search business is growing well in excess of the total search market? Just to get a little sense of some of the drivers there. We understand the shift towards search in a pressured macro environment, but what particularly are you guys doing well.' CEO Answer: 'Now when it comes to the second question that has to do with what we are doing better when it come to search advertise. So what we are doing better very much has to do with our partners, Microsoft advertising. So Microsoft identified that there is the time and they are putting a lot of effort behind it, it has to do with new products that we launched during -- in this quarter, it's called Microsoft Trends.'",
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      "kind": "title",
      "text": "We Believe That More Explanation of Microsoft Trends Would Be Helpful To Investors",
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