Matching slides 60,568
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24,241-24,270 of 60,568

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The slide uses a precedent case to establish credibility for the current activist campaign.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
11
The slide uses a checkmark/X matrix to highlight reporting discrepancies.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Hypothesis Test1 hit
13
Uses a comparison table to contrast the company's stated method with the activist's view.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Hypothesis Test1 hit
14
The slide highlights a shift from positive to negative margins in the adjusted calculation.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
15
The table demonstrates the discrepancy between company-reported adjusted OCF and Spruce Point's adjusted OCF by subtracting items the company adds back.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
16
The table highlights the shifting terminology and values used by the company over time.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
17
The slide uses a red box to highlight the 12/31/19 period across all three companies to emphasize the anomaly.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
19
The table shows a consistent pattern of negative cash flow before financing across multiple years and quarters.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
20
Uses press release excerpts and a data table to demonstrate insider selling.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller Beat · Agitate (Make it worse)Loop · Iceberg1 hit
23
The slide highlights a discrepancy between the target company's compensation metrics and those of its peers.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
30
The slide uses a comparison table to argue that direct ownership is financially superior to leasing.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
34
Includes a table showing historical SREC revenue and growth, with red boxes highlighting recent declines in 2020.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
36
The table illustrates the sensitivity of project economics to regulatory tax incentives.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
42
Uses a three-column comparison framework to systematically dismantle company claims.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
49
Uses a 'before-after' or 'precedent' style to contrast Sungevity's 2016 pitch with its 2017 bankruptcy and 2020 layoffs.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
52
Uses a contrast-pairs framework to highlight management's narrative versus the activist's skepticism.Sunnova Energy International Inc. (NOVA) · Spruce Point Capital Management
Activist deck Short seller 1 hit
63
Uses visual callouts (plus sign and not-equal sign) to highlight the mathematical inconsistency in the company's financial reporting.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
66
The slide uses a comparison table to establish credibility by citing past successful short campaigns.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
67
The slide uses a table to contrast company-reported metrics with activist-adjusted metrics to prove misstatement.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
74
Uses a 'before-after' or 'contradiction' structure to highlight a discrepancy between corporate disclosure and subsequent events.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
75
Uses a 'Reality Check' framing to highlight a discrepancy between management's narrative and the underlying financial metrics.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
80
The slide uses a 'Spruce Point Reality Check' callout to frame the contradiction between two sets of financial guidance.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
84
Uses a table from an Ares Capital 10-Q to highlight the distressed nature of the target company.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
85
Uses a 'before-after' or 'promise-vs-reality' structure to highlight the failure of the Bestway acquisition.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
88
The slide uses a table of property addresses and visual evidence (photos/maps) to support the claim of excessive perquisites.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
92
The slide uses a table to contrast the company's claims of independence against specific biographical and professional ties.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
93
The slide uses a red underline to emphasize the specific text in the Amcor biography that is missing from the GFL biography.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
94
The slide uses a quote from GFL filings to expose the lack of director incentives.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
97
The slide uses analyst consensus to argue that the market's expectations are already capped, supporting a bearish thesis.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit
100
The table includes a 'Spruce Point Adj' row to account for TEU impact on enterprise value.GFL Environmental Inc. (GFL) · Spruce Point Capital Management
Activist deck Short seller 1 hit