- After days of rumor-fed declines, Dish Network (NASDAQ:DISH) is up 4.5% in a relief rebound today after Kerrisdale Capital confirmed it was shorting the stock.
- "We are indeed short $DISH," the firm tweeted a bit ago. "We haven't chosen to discuss it publicly yet. When we do, we'll have a lot to say."
- Yesterday, it confirmed it was "perhaps many weeks" from publishing on "a $10bn+ company that we believe is worth 60% to 80% less than its current trading value."
- Kerrisdale's argument is going to center on spectrum holdings it feels are overvalued significantly.
- Kerrisdale had started a fund dedicated to shorting one target, Bloomberg reported last month, but it hadn't confirmed chatter that Dish Network was the subject of their efforts.
- Now read DISH Network - No Value In Spectrum Anymore? »