News about Kerrisdale Capital Management betting against a certain stock has reached Reuters through a valid source. A high number of investors have backed the company in the bet and thrown in an amount rounding up to a hundred million dollars. Kerrisdale is taking the hedge fund market by storm, and their business practice displays uniqueness in the way they carry it out.
In the past, hedge fund companies have raised money to support certain investment thesis. This is a usual happening and is nothing close to what Kerrisdale is doing. The company, a small firm headed by SahmAdrangi, is planning on using the gathered cash to short the stock of a certain public company that is yet to be unveiled. This act has not been done before, and if it has, it must have gone unnoticed.
Mr. Adrangi mentioned that the amount that the company was able to raise was meaningful and was raised within a very short while. This means that they were able to convince a considerable number of people in the society. Adrangi confirmed that everyone in the company was aware of all the details involved in the venture. He also stated that he was working with Shane Wilson, a fellow analyst at Kerrisdale, to create a video, a report, a website and many other platforms to convince the basis of their thesis and why they think it’s going to work.
The anonymous source claimed that the company that was yet to be unveiled to the public would be announced in May. Despite efforts by the press, the source failed to spill the beans since the information was supposed to remain hidden from the public till then. In the meantime, the company was making the necessary arrangements to ensure that the venture prospered.
Adrangi, who is the Chief Investment Officer and founder of Kerrisdale Capital Management, has contributed to every huge stride that the company has made. The company was founded in 2009 and has been prospering over the years under the guidance of Adrangi. When being launched, Kerrisdale had less than one million dollars. Today, the company manages over one hundred and fifty million dollars and will continue to increase its worth in the coming years.