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)
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