Ep. 438: The Big Short Never Ends with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Oddties Between Valiant and Filidor
On October 19th, 2015 on an earnings call with analyst, Valiant CEO Pearson says the company will ease up on its strategy of buying up drugs. A story from the Southern investigative reporting foundation is the first to detail the odd ties between Valiant and Filidor. One day later, a report by Citron Research run by activist short seller Andrew left who is actively shorting Valiant. Reveals more information about Filidor and its network of phantom captive pharmacies. Now October 22nd, Valiant calls this report erroneous. It says it hasn't used Filidor to book fake sales. And so right around that October 22nd period, Valiant shares plunged 30% in just a few days.
Play episode from 15:04
Transcript
