The cast of characters in the play, "How To Short Ebix And Get Away With It": Dan Yu as Gotham City, Sam Antar as the lovable, reformed felone, Marc Cohodes as the former hedge fund manager pretending to be a chicken farmer in California with ties to Herb Greenberg, Additional writing by Greg Farrell. Marc Cohodes is more than likely in on the play against Ebix after reading some of his tweets. So, is the former manager of Cooper River the real Cooperfield Research? I think that it is possible. He's a racist with very rude and crude tweets about Raina. Plus Tweet to Sam Antar May 21st about HLF's auditor: There is always CBH out of Richmond,Va. They sign off on anything. Extensive tweets back and forth with Mr Yu. Tweet to Gotham City May 13: I don't know why the IRS hassled the Tea Party, they can get 100 million in back taxes from Ebix. May 10 tweet: A few folks owe GothamResearch an apology. The guy/gal had it figured out (as if he didn't know Mr Yu). May 10 tweet: Ebix stock would be at 5-8 dollars without a deal right now and I have a feeling the tires may be kicked here. Another on May 10: So Goldman is trying to buy a fraud and lever it at 5x with a formal SEC investigation and an Open IRS audit at 4x down sales. Makes sense. Another on May 10: So in a late filing turns out EBIX is under Formal Investigation by the SEC. In March is tweets to Mr Yu sounded like a mentor coaching is his pupil. Feb 23: he discussed Collins with Sam Antar and the 5 audit changes and Sam said: If there is anything to admire EBIX for, it is that they turn over auditors more frequently than the fraudsters in China. Tweet to Gotham after he re-tweeted Gothams Ebix attack on Feb 21: Quite a piece well done.
I need to water my garden; I'll read more later.
I totally get what you are saying and the frustration you have expressed. Sam is not someone I think highly of and I am sure I would not care for him if I ever met him in person. However, because of his past "career", I would not discount his "expertise".. As they say "it takes a thief to catch a thief". And he did accurately predict stockholders sentiment when he tweeted on May 3 "When we tried to take Crazy Eddie private to cover up our frauds, investors thought we were trying to steal the company". Personally, I now have a lot more questions as to what is going on at Ebix than I did a few months ago.
It also takes a thief to promote another thief or thieves. Just because Sammy can equate his and his families criminal acts to other companies doesn't mean anything. He supported short attacks on other companies including Green Mountain Coffee Roasters. Sam has never changed other than to different shifty organizations. He doesn't even have empathy for those he helped defraud at Crazy Eddie. He must think that they deserved what they got. In my opinion, he is a true psychopathic criminal who may get caught again some day; he lacks all credibility. Cohodes appears to be another psychopathic criminal. He blames Goldman for his failures and his naked shorting. But he and his hedge fund, Copper River, settled with Overstock for $5M on their naked short lawsuit. He does not want to admit his own illegal actions. Mr Yu admires Cohodes and Jon Carnes and wants to grow up just like them. Carnes anonymously attacked Chinese companies. Carnes had better stay away from China; he's a wanted man and will be put in jail. Then you have Greg Farrell and Seeking Alpha who are either just as corrupt or just pawns. But then since Greg Farrell's last hit article bringing in all the negative remarks that he could dig up, including those from Cohodes, I tend to believe the worst.
I have no idea where the price is going short term. Investigations are announced by government entities, but I have never seen one that has issued a statement that they are done. So this can go on for a long time. But then Ebix has the opportunity to buy back a lot of cheap shares to increase their earnings per share. That cash that they generate is real. That $100M buyback is real. They bought companies and stock with it in the past. But dumb ace shorts are persistant. The government is looking into Ebix because they have to since shorts made so much trouble. If you only see minor changes in the way that Ebix files with the SEC, that's a very good indicator. As for Raina making any bullish statement, I'm sure his lawyers have advised him against it. That's part of the lawsuits and investigations.
One more thought before I water. It seems that Mr Yu might have removed the tweets between him and Cohodes. I know that Mr Yu has removed tweets before when he was discovered to be Gotham City.