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  "docSlug": "7928eb40991c",
  "documentTitle": "Monster Beverage Corp. (MNST)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-04-08 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 23,
  "pageCount": 79,
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  "nextPage": 24,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Uses visual evidence (screenshots and in-store photos) to demonstrate pricing strategy changes.",
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      "text": "Monster recently ran a promotion with Wawa in January – February for $3 per can, which is not much of a discount given they currently sell for $3.50 per can. Now Wawa is offering buy 2 get 1 free which lowers the price to $2.33 per can.",
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      "text": "Jan - Feb 2025 Promotion graphic",
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      "kind": "image",
      "text": "Recent April 2025 Check in-store photo",
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      "kind": "image",
      "text": "Customize Your Own Energy Drink website screenshot",
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      "text": "Wawa is a fast-growing convenience store chain with over 1,100 locations primarily up and down the East Coast corridor in the U.S. Wawa has innovated by offering customers “customized” energy drinks. Monster recently ran a promotion with Wawa in January – February for $3 per can, which is not much of a discount given they currently sell for $3.50 per can. Now Wawa is offering buy 2 get 1 free which lowers the price to $2.33 per can.",
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      "kind": "source-note",
      "text": "Source: Wawa, Monster promotion, Spruce Point research",
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      "kind": "title",
      "text": "Wawa, A Fast-Growing Convenience Store In The East Cost Corridor, Offers Customized Energy Drinks",
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      "name": "The Reveal",
      "slug": "05-the-reveal",
      "bestFor": "Product launches, strategic pivots, unexpected findings",
      "matchId": "469f687c-a10d-4864-98fa-9c9877675ea6",
      "evidence": "Repeated use of 'expose_contradiction' slides to highlight discrepancies in Monster Beverage's reporting and operations.",
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