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The Securities and Exchange Commission (SEC) has raised concerns over the practices of activist short sellers, particularly their tendency to cover shorts quickly after releasing reports. This scrutiny follows a complaint against Andrew Left, a prominent figure in the short-selling community. In response, Kerrisdale Capital has issued a new disclaimer in its reports, humorously suggesting that investors should assume the firm has shorted significant amounts of stock prior to publication. The disclaimer appears to be a reaction to the SEC's stance on the transparency and integrity of short-selling activities.
The SEC seems to think that there is something inherently deceptive about activist short sellers covering their shorts quickly after publishing their reports. https://t.co/xaPcgU1Rgu via @opinion
The SEC seems to think that there is something inherently deceptive about activist short sellers covering their shorts quickly after publishing their reports. https://t.co/dLysbgXcfk
I know a lot of short sellers are mad about Left’s SEC charges, but if you are looking to CYA I would start with “don’t pretend to run a hedge fund to increase Twitter clout when you’re just a guy trading his PA” before putting a sarcastic 5000 word disclaimer in your deck https://t.co/JCIWYWEAoW
