The shocking revelation of Kerrisdale short stocking one single company with capital worth $100 million was quite a surprise. The Chief Investment Officer, Sahm Adrangi was the one leading in the move. It was one of the unique deals a company has ever taken because usually, companies will source for capital to recover businesses that are not doing so well.
For Kerrisdale, they defied the odds and made the bold move. Adrangi sent an email to the investors informing them of the firm’s move. He also added that their focus would be on making people understand their move. They would do so using videos and a detailed report on their reasons behind the short stocking.
It is said that the firm had even begun buying stock of the company in question. This was a move to ensure they establish their position in the enterprise. The impressive bit about the move is that Kerrisdale raised the capital in a short time.
The company was later unveiled in May which was Dish Network. Kerrisdale Capital has been on the forefront of being involved in betting against companies. For example, some of these firms are Zafgen and Globalstar. The company is well known for making such moves and making them public. Sahm Adrangi was majorly involved, and he is well known for his published articles.
The renowned leader who is a graduate who is a B.A Economics graduate at Yale had previously worked at Deutsche Bank from 2004 to 2005. He later proceeded to Chanin Capital Partners. Before joining Kerrisdale, he had previously worked at Longacre Fund Management LLC as an analyst. He founded the company in 2009 and has been in operation since then.
Adrangi has been a researcher for a while, and through the company, he has been able to share any new research on the company’s website as well as social media. His research has put some corporations into the limelight for scrutiny like Northern Dynasty Minerals.
Adrangi has risen through his financial career and has been able to make a name for himself. He has even spoken at conferences such as the Distressed Debt Investing Conference.