Kerrisdale Capital Management owned by Sahm Adrangi plans to bet against a single stock. Kerrisdale Capital management has been able by now to gather an amount almost reaching hundred dollars in its plan. This information was licked out by a person with the information to the Reuters. It appears that it is the first time for Kerrisdale Capital Management to acquire such an amount meant for the termed “co-investment.” However large amounts of money are raised by hedge fund managers to recover distressed energy firms or securities regarding the residential mortgage. This is in contrast with the plans new Kerrisdale Capital Management, which is a relatively small company. Kerrisdale Capital Management is on a plan to short the stork of a public company that is yet to be opened.
As written by Adrangi in an email to the concerned investors, he said that they had managed to strike the cord of the alternative community by raising such a significant amount within a concise time frame. The email was review by the Reuters. According to the email, Adrangi added that they are planning to make everyone understand all that they have about the success they have had in acquiring a ten billion worth company. Adrangi has joined hands with the Kerrisdale Capital Management’s analyst Shane Wilson who is focused on the upcoming campaigns and is designing a video, a report, a website and other materials on their thesis to convince people.
The person whose identity is hidden to the public continued to report to the Reuters that the targeted company is scheduled to be opened in mid may. The information was not meant to be portrayed to the public. He tells the Reuters that the Kerrisdale Capital Management has already started establishing its stand in the new company by buying stock according to the email.
With the now amassed amount, Kerrisdale Capital Management harbors an approximate sum of money of five hundred dollars. Kerrisdale Capital Management has a reputation in its history of taking its case public and of betting against companies. Some of the companies in its history that it has short included the Sage Therapeutics which is a drug producing company, a satellite company Globalstar and the Zafgen. Kerrisdale Capital Management’s hedge fund used for betting for and some other times betting against companies has enabled the company to have an annual return of 28% for five years now as reported by the person.
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