iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,692 Blog Posts

Kerrisdale Beatdown: $STRP Acquired for Mega Premium

I remember when Kerrisdale issued their short report on $STRP back in 2015, bearing witness to the stock getting shredded from the $30s down to single digits. It was followed up with other bears, like Sinclair Upton, who made wild accusations about the companies spectrum being worthless.

Apparently, they couldn’t be further from the truth, as AT&T announced today that they’re worth $1.6b, or 162% above Friday’s close.

Believe me, I have sympathy for people losing money. But in this case, the people from Kerrisdale literally posted fake news, poorly researched nonsense, and pawned it off as fact — luring untold people into their nest of gibberish to be summarily executed by today’s move in the stock.

Any idea what a 160% move in a short position can do to a portfolio?

Their original assumption was that $STRP was, essentially, worthless.

They updated their followers of their renewed spirits in getting against the stock back in January. They could not have been more off the mark.

And for the money shot.

Now the retards are bankrupted. Great analysis Kerrisdale.

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9 comments

  1. rigged game

    Uber is a piece of shit, only staying in business
    because they rape their drivers, who, like pizza
    delivery men, pay their own vehicle expenses.

    The peons that drive for Uber don’t have the ability
    to study their real costs. They think only of
    “gasoline costs” and fail to account for depreciation,
    maintenance, insurance, and the real value of
    their labor. Uber expoits them.

    • 0
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    • 0 Deem this to be "Fake News"
  2. wolfdaddy

    Hope he saved some money for his dui and coke bust

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. cancel19

    Couldn’t happen to a better bunch of pricks.

    • 0
    • 0
    • 0 Deem this to be "Fake News"