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05
The slide uses red text to emphasize specific negative associations with board/executive members.Enfusion, Inc. (ENFN) · Spruce Point Capital Management
Research note Short seller Beat · Call to AdventureLoop · Zoom In1 hit
06
Uses red boxes to highlight specific text in biographies and blue arrows to connect them to a press release about GE's SEC penalty.Enfusion, Inc. (ENFN) · Spruce Point Capital Management
Research note Short seller Beat · Call to AdventureLoop · Zoom In1 hit
07
Uses Wayback Machine screenshots to demonstrate shifting corporate narrative.Enfusion, Inc. (ENFN) · Spruce Point Capital Management
Research note Short seller Beat · Call to AdventureLoop · Zoom In1 hit
08
Uses a comparison of two SEC filing excerpts to show how the company's narrative on competitors has evolved.Enfusion, Inc. (ENFN) · Spruce Point Capital Management
Research note Short seller Beat · Call to AdventureLoop · Zoom In1 hit
09
Uses before-after comparison of corporate messaging and press releases to demonstrate a weakening value proposition.Enfusion, Inc. (ENFN) · Spruce Point Capital Management
Research note Short seller Beat · Call to AdventureLoop · Zoom In1 hit
25
The slide uses a structured table to demonstrate the impact of Kalshi on DKNG's sportsbook handle and subsequent revenue.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
26
The table demonstrates that even in the 'Most Conservative' case, Spruce Point projects a revenue miss against consensus.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
27
The slide uses a comparison table to highlight feature parity and social media screenshots as proof of the new competitive threat.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
28
Image file /tmp/legacy-images/fab8b03c0201/slides/028.jpg not found on disk; unable to inspect slide.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
29
The slide uses a side-by-side comparison table to contrast JP Morgan's methodology with Spruce Point's corrected methodology.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
30
Uses external data (InGame analysis and former employee testimony) to challenge the valuation thesis of the target company.DraftKings Inc. (DKNG) · Spruce Point Capital Management
Activist deck Short seller Beat · The VictoryLoop · Zoom In1 hit
06
The slide uses direct quotes from company filings to expose the contradiction between management's claims of remediation and the recurring nature of the weaknesses.Super Group (SGHC) Limited (SGHC) · Spruce Point Capital Management
Activist deck Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
07
The organizational chart is intentionally rendered at a scale that makes individual entities unreadable, reinforcing the 'complexity' narrative.Super Group (SGHC) Limited (SGHC) · Spruce Point Capital Management
Activist deck Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
08
Uses visual callouts to point out the discrepancy between the 100% claim and the 89.29% reality.Super Group (SGHC) Limited (SGHC) · Spruce Point Capital Management
Activist deck Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
09
The slide uses a timeline and a document excerpt to highlight a discrepancy in financial reporting.Super Group (SGHC) Limited (SGHC) · Spruce Point Capital Management
Activist deck Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
33
The slide uses a red callout box to emphasize the 23% exposure to high-risk countries.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
34
The slide uses a table format to contrast historical negative commentary with recent optimism, framing it as a pattern of management failure.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
35
The slide uses a table-like structure to compare 2023, 2024, and 2025 reporting on Brazilian tax issues.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
36
The slide uses a narrative structure to connect geopolitical tensions with specific industry impacts on Bunge and U.S. agriculture.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
37
The slide uses a contrast-pairs approach to show how management's narrative shifts or omits information.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
38
Uses a before-after framing to contrast past promises with current performance.Bunge Global SA (BG) · Ben Axler
Activist deck Short seller Beat · Evidence & ProofLoop · Zoom In1 hit
05
The slide uses external citations (FDA approval, peer-reviewed article, ECCMID poster) to build a negative case against the subject technology.Accelerate Diagnostics (AXDX) · White Diamond Research
Research note Short seller Beat · Problem (Identify pain)Loop · Zoom In1 hit
06
The slide uses a Q&A format to highlight technical and operational weaknesses in the AXDX Pheno system.Accelerate Diagnostics (AXDX) · White Diamond Research
Research note Short seller Beat · Problem (Identify pain)Loop · Zoom In1 hit
07
The slide uses a combination of technical critique and competitive intelligence (QuantaMatrix interview) to undermine the value proposition of the Pheno system.Accelerate Diagnostics (AXDX) · White Diamond Research
Research note Short seller Beat · Problem (Identify pain)Loop · Zoom In1 hit
03
Uses a table to compare specific element concentrations (Nd, Pr, Dy, Tb) and a quote from the CEO to highlight a discrepancy.Ramaco Resources, Inc. (METC) · Wolfpack Research
Research note Short seller Beat · Villain CritiqueLoop · Zoom In1 hit
04
Includes a direct quote from the CEO to expose a contradiction regarding REE concentration levels.Ramaco Resources, Inc. (METC) · Wolfpack Research
Research note Short seller Beat · Villain CritiqueLoop · Zoom In1 hit
05
Includes two quotes from industry figures to support the argument that recoverability testing is standard and inexpensive.Ramaco Resources, Inc. (METC) · Wolfpack Research
Research note Short seller Beat · Villain CritiqueLoop · Zoom In1 hit
07
This is a short-seller research note alleging fraud based on physical site inspection.EHang Holdings, Ltd. (EH) · Wolfpack Research
Research note Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
08
This is a research note documenting a site visit, specifically highlighting the lack of professional manufacturing infrastructure.EHang Holdings, Ltd. (EH) · Wolfpack Research
Research note Short seller Beat · Expose ContradictionLoop · Zoom In1 hit
09
This is a research note slide from a short-seller report (likely Hindenburg Research or similar) questioning the manufacturing claims of EHang (EH).EHang Holdings, Ltd. (EH) · Wolfpack Research
Research note Short seller Beat · Expose ContradictionLoop · Zoom In1 hit