Velodyne Lidar f/k/a Graf Industrial Corp. What did you think of the Muddy Waters description of the SPAC market and the bad management teams floating “hot garbage” on investors? A SPAC spokesman did not disagree with the numbers. His latest critical report locks horns with some of the cream of the U.S. financial and business establishment, while taking aim at their beloved new fad: the special purpose acquisition company, or SPAC.This is shaping up to be quite the fight.Block launched … After Muddy Waters put out a short on a Chinese company, "they would just be like deer in the headlights getting run over." This complaint looks for the Delaware Court of Chancery to make clear if boards of SPACs are subject to an "entire fairness" standard of review in connection with de-SPAC transactions. 3. Sign up for StreetInsider Free! Muddy Waters also alleged that Multiplan’s private equity owners, Hellman & Friedman—the third PE firm to hold Multiplan—had made the SPAC deal as the last available exit, having extracted what value it could and otherwise taken much of its investment out of the company. (Bloomberg Opinion) -- Carson Block of Muddy Waters Capital LLC made his name as a short seller targeting obscure Chinese companies. How Spac insiders make millions while later investors struggle Many individual investors take losses on Spacs, while insiders benefit from discount stakes Carson Block, CEO of Muddy Waters: 'It's so asinine that you can get this kind of payday for doing something so value destructive'. Muddy Waters is short XL Fleet Corp (NYSE:XL) because it strikes us as middle of the fairway SPAC garbage. Risking $0 to make $3 way better than risking $35 to make $15. The report said there could be perverse incentives in the Spac model. In a … Les Spac dans le viseur des vendeurs à découvert | Les Echos Accessed March 15, 2021. Muddy Waters then published a report setting forth their key reasons for shorting shares. “We have a few SPAC ideas we’re kicking around; lots of dogshit there,” said Muddy Waters’s Carson Block, who in November came out with a short against MultiPlan. All of the foregoing notwithstanding, it is also important to note that this complaint depends heavily on the highly incentivized report of short-seller Muddy Waters. Muddy Waters described XL as "middle of the fairway SPAC garbage," said the company had exaggerated its backlog of orders, and questioned the competitiveness of XL's technology. MultiPlan (NYSE:MPLN) shares dive over 20% to $6.97 after Muddy Waters Research releases a short report titled "MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab. Much of the decline in stocks followed a November report by short-selling Muddy Waters Capital LLC, which claims the company has been financially weakened and overvalued. Like IPOs or any other transactions, there is a range of quality. Muddy Waters et Hindenburg Research font à nouveau parler d'eux. Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! This month, a report by short seller Carson Block’s Muddy Waters slammed the SPAC frenzy, noting: “A business model that incentivises promoters to do something — anything — with other people’s money is bound to lead to significant value destruction on occasion." That SPAC has 19% of its shares outstanding sold short, ... Muddy Waters Research. Among other things, the Muddy Waters report claimed that at the time of the merger, MultiPlan was in the process of losing its largest client, UnitedHealthcare, which, the report claimed, could cost the company about 35% of the company’s revenues and 80% of its levered free cash flow in the next two years. (Bloomberg Opinion) -- Carson Block of Muddy Waters Capital LLC made his name as a short seller targeting obscure Chinese companies. So far Muddy Waters has lost money on its GSX short. Les Spac ont corrigé de plus de 15 % en Bourse en un mois. Muddy Waters predicted that could lead to a 35 per cent decline in revenue within two years for MultiPlan. Muddy Waters is taking on a Michael Klein SPAC. Muddy Waters s’attaque à Michael Klein et aux SPAC ... l’un des quatre SPAC cotés de l’ancien fabricant de pluie Citigroup Michael Klein. We conclude that the real green technology at XL is duping investors into throwing money at this company through a collection of exaggerations, half-truths, and mistruths. A 30% move in a SPAC from $10 -> $13 is FAR superior than in a SPAC from $45 -> $60. I mean these guys are among the most sophisticated players in the market in terms of understanding the technicals," he said. https://www.wsj.com/articles/short-sellers-boost-bets-against-spacs-11615714200 Why we are watching? I do not believe the statement to be accurate. "XL Fleet: Not Denying Much, Still SPAC Trash." SPACs are event-driven trades rich in catalysts before merger closing featuring a $10 hard floor.