A small hedge fund that says its reports have led to CEO resignations has a new big short (ULTI)
|12/19/2016||Posted by BusinessMediaguide.Com under General World News||
A small short-seller that says its reports have led to the resignations of several CEOs has a new big short.
Ben Axler’s Spruce Point Capital Management, a stock-focused hedge fund, has released a new report on Ultimate Software, a tech company that provides cloud-based human resources software. Short-sellers bet that a company’s stock will go down.
Among Spruce Point’s reasons for betting against the company: Ultimate Software is “in denial about changes in its competitive landscape” and has the “worst governance” Spruce Point has ever seen, according to a presentation sent to Business Insider.
Axler has been managing his own money for read more >>>