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Hebron Technology Shares Drop After Report At Contrarian Investor Virtual Conference No. 2

Published June 3, 2020

The Contrarian Investor Podcast, in partnership with ValueWalk.com and Breakout Point, hosted their second virtual conference today.

Shares of Hebron Technology (HEBT) sold off sharply after a presentation from Siegfried Eggert, CEO of Grizzly Research. “We believe the company is operating an insider enrichment scheme,” the presentation says. “All major transactions of the last year were announced and portrayed as arms-length, but we could link them all back to company insiders.”

HEBT opened around $20.80 per share on the NASDAQ this morning, already lower than yesterday’s close of $22.59. The stock sold off more sharply after Grizzly’s report, dropping from about $20.70 to around $17. At the time of this writing HEBT was trading more than 23% below yesterday’s close.

Update: Shares of Madison Square Garden Entertainment (MSGE) and Madison Square Garden Sports (MSGS) rallied after the presentation by Jonathan Boyar of Boyar Value Group.

Update 2: Shares of Vista Oil (VIST) spiked after David Neuhauser of Livermore Partners presented his bullish thesis on the company.

Update 3: At least one law firm has announced an “investigation on behalf of investors” in Hebron Technology.

The conference’s other presenters focused on long ideas:

  • Andreas Aen of Symmetry spoke about Danish “mini-conglomerate” North Media A/S, which trades on the Copenhagen stock exchange under ticker symbol NORTHM;
  • Neuhauser of Livermore Partners also presented Solgold (SLGGF)

Highlights From Our YouTube Channel

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Shares of Akazoo, Silvercorp Sell Off On Reports From Inaugural Contrarian Investor Virtual Podcast

Published April 21, 2020

The Contrarian Investor Podcast, in partnership with ValueWalk, hosted the inaugural virtual conference before market open on Monday, April 20. A recording of the event is available on our new YouTube channel (and viewable at the bottom of this page).

Shares of Akazoo sold off sharply after the presentation from Gabriele Grego of Quintessential Capital Management that kicked off the event. “We believe Akazoo is a scheme orchestrated by management to profit while egregiously deceiving investors,” Grego said during the presentation. “We see signs of very suspicious accounting manipulation,” including cash inconsistencies and “a total lack of income taxes.”

Update: On May 21, an Akazoo special committee of independent directors announced that management and associates “participated in sophisticated multi-year fraud.”

Silvercorp Metals also sold off in the pre-market after the presentation by Nathan Anderson of Hindenburg Research.

Maj Soueidan of GeoInvesting LLC, a previous guest on this podcast, said he was bullish on shares of Intouch Insight. The customer experience company’s stock has sold off after coronavirus, which Soueidan says is an opportunity to build a position. He has a target of about $3 for the stock, which was trading around 27 cents a share at the time of his presentation.

Matt Zabloski, another guest on the podcast, gave the final presentation of the event, saying he was long shares of Vale, a Brazilian iron ore producer.

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