Globalstar Falls On Rumor That It Is Kerrisdale’s Next Short Target

Yesterday Kerrisdale Capital released a funny video to build up buzz for a multi-billion dollar short that it is going to present next Monday, presenting ‘a new generation of belligerent short sellers’ as heroes ready to save lazy investors from themselves. Of course we’re planning to cover the thesis when it gets presented next week, but investors are trying to figure out who is going to get shorted since the company’s stock will inevitably fall, at least in the short-term.

Globalstar rumored to be the target of Kerrisdale short

Jason Bernstein at Odeon Capital Group LLC sent an email to clients that he’d a heard the presentation will be about Globalstar, Inc. (NYSEMKT:GSAT), recommending that they buy while the price...