Short-Seller Spruce Point Highlights Its Latest Canadian Consumer Short: Saputo

Reputed short-seller Spruce Point Capital Management released its latest short report this week. The firm is shorting Canadian dairy and grocery manufacturer Saputo. Spruce Point chief Ben Axler believes the company is entering a phase of declining growth and highlights the financial stress and growing challenges he sees it facing, not only in Canada but also in the U.S., Europe and Australia.

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Saputo shares haven't been affected much by Spruce Point's short report yet. However, the firm has a solid track record of making calls in the consumer and retail sector in Canada, especially in the food and packaged goods industry. Among...