From Whitney Tilson via email: RE Opko Health Inc. (NYSE:OPK)
Run, don’t walk, to read this takedown of Opko Health Inc. (NYSE:OPK) (below and attached) – it’s one of the best I’ve ever read.
Worm Capital July 2020 Performance Update: Up 152% YTD
Worm Capital performance update for the month ended July 31, 2020. Q2 2020 hedge fund letters, conferences and more Long/Short Equity Growth Strategy Net Performance Long-Only Equity Growth Strategy Net Performance
I saw Anthony Bozza of Lakewood Capital present this at the Robin Hood Investors Conference and it was so blindingly obvious that he’s right that, after doing my own work, I shorted it (first at a bit under $10, then more recently as the stock ran up over $11).
Bozza is one of the very best short sellers out there and this is the first time he’s ever written publicly.
Sent: Wednesday, December 11, 2013 8:38 AM
Subject: OPK Opko Health trading lower; Lakewood Capital reiterates short thesis ($11.50)
OPK Opko Health trading lower; Lakewood Capital reiterates short thesis ($11.50)
- Recall on 21-Nov, shares of OPK traded sharply lower following Lakewood’s presentation of its short thesis at the Robin Hood Investors Conference
- Today, Lakewood publicly released its analysis on OPK in response to a bullish article by TheStreetSweeper that had been released on 25-Nov in rebuttal to Lakewood’s presentation at the conference.
- Lakewood believes shares of OPK are worth 75-100% less than where they are currently trading given the company’s history of failures, the low likelihood of meaningful commercial success in any of OPK’s products, the company’s financial performance, and unrealistic bullish analyst forecasts
- Shares of OPK are currently trading (6.0%) at $10.81
Full document in pdf Opko Health report-Lakewood Capital-12-11-13