Investors Reiterate Their Short Position In Tilray’s Stock


What the activism world is talking about – short activists hone in on Tilray’s Stock as for longs? Its all about Sky and Comcast

After Activist Insight Online last week revealed European activist fund CIAM invested in Sky and believed the company was worth 17 pounds per share, the weekend saw a lengthy bidding war for the broadcaster end in an auction between Twenty-First Century Fox and Comcast. Comcast came out on top with a $40 billion takeover offer – 17.28 pounds per share compared to Fox’s 15.67 pounds per share. Sky is now urging shareholders to accept the substantially better offer, which it believes is in the best interests for everyone. Whether activists think they can help the Murdochs make one last push remains to be seen. Elliott Management declined to comment.

What we’ll be watching for this week

  • Will GrowMax shareholders vote for its board’s slate of nominees and its proposed acquisition of PrimaSea?
  • Will USG’s proposed merger with German peer Gebr. Knauf be approved?
  • Will Athenahealth attract any offers besides Elliott’s before its extended September 26 deadline for bids?

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Q2 hedge fund letters, conference, scoops etc

Activist shorts update

Despite an 80% appreciation in Canadian cannabis company Tilray's stock, Citron Research reiterated its short position. The short seller’s Andrew Left explained in a Youtube video that Tilray is a bubble and he will continue to short the shares even as they rise. Left said there are at least seven cannabis companies in the space that are cheaper and better positioned than Tilray, naming Canopy Growth as the “gold standard” of cannabis.

To arrange an online demonstration of Activist Insight Shorts, email us or view our product brochure to find out more.

Chart of the week

The number of U.S.-based companies facing public M&A-related activist demands (between January 1 and September 21 of each year).

Tilray's Stock

Article by Activist Insight

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About the Author

Since 2012, Activist Insight has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Founded by Nick Arnott and Kerry Pogue with the objective of providing unmatched intelligence to professionals in the global activist investment space, Activist Insight made its entry into the market with online information product, Activist Insight Online. Activist Insight Monthly, the world’s only monthly magazine dedicated to shareholder activism, soon followed, granting its readership access to the thoughts and opinions of key industry professionals, while providing an editorial vehicle for the data trends uniquely aggregated from Activist Insight Online. In 2013, Activist Insight’s sister business, Proxy Insight, was co-founded by Nick Dawson and Nick Arnott.

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