- Kerrisdale Capital is preparing a negative report on Dish Network (NASDAQ:DISH), arguing that the spectrum holdings key to its worth are overvalued, Bloomberg says.
- Shares fell 4.2% today, making a week where they've declined 11.4%. They're down 0.7% after hours so far.
- Kerrisdale had previously started a fund dedicated to an unidentified short target, Bloomberg noted, and the firm fanned the flames today with a tweet saying "We're working on a $10bn+ company that we believe is worth 60% to 80% less than its current trading value," adding that publication may be weeks out.
- A Dish spokesman said “We understand Kerrisdale is shopping a negative report on Dish and may be shorting our stock in an attempt to make a short-term gain while we are in an FCC-mandated quiet period" due to the FCC spectrum auction.
- Now read DISH Network - No Value In Spectrum Anymore? »