Welcome to The Bear Cave! Our last premium articles for paid readers were “When AI Eats the Moat” and “Problems at Tenable (TENB).” Our next special investigation comes out this Thursday, August 20.
Viceroy Research published on Blue Moon Metals (NASDAQ: BMM / TSX-V: MOON — 670 million CAD), a miner whose flagship is the Nussir copper project in Norway. Viceroy argues the project’s tailings-disposal permit is effectively dead after Norway’s Supreme Court voided a near-identical permit under EU environmental law, with the court finding such permits “cannot… be repaired retrospectively.” Viceroy says management concealed the exposure while raising $156 million through paid stock promotion. The report reads:
“In our view, it is an ideal short: a company centered around a hastily acquired pipe dream, haphazardly held together by a flimsy permit on the brink of folding, and promoted to Canadian retail investors via paid stock promoters who almost exclusively represent shit businesses.”
White Diamond Research published on ZenaTech (NASDAQ: ZENA — $190 million), a cash-burning roll-up that sells drone software. White Diamond alleges a classic related party scheme: A CEO-controlled shell, Epazz, does ZenaTech’s R&D and then sells it back to the company at a huge markup.
President and Chief Strategy Officer at Salesforce (NYSE: CRM — $161 billion) disappeared from the company’s leadership page with no announcement. It’s the newest in a rush of apparent senior exits, on the heels of the Chief Engineering & Customer Success Officer’s abrupt departure roughly a week ago.
Executive Vice President, Chief Financial Officer and Treasurer of Kilroy Realty (NYSE: KRC — $4.2 billion) is leaving via a termination without cause, roughly two years after signing his employment agreement in July 2024.
Executive Vice President and President, Central Laboratories and International at Labcorp (NYSE: LH — $25.8 billion) resigned after about two years in the role, effective early September.
GM of Firefly at Adobe (NASDAQ: ADBE — $105 billion) lasted only eight months before slipping out to launch an “AI-native film studio.” It was one of several fast exits, with the retail and consumer-goods GM gone around the one-year mark and an SVP of AI out earlier this year.
President and Chief Operating Officer of Addus HomeCare (NASDAQ: ADUS — $2.2 billion) left the company on August 7 after roughly eleven months in the role. A longtime insider was named interim COO the same day.
Unannounced departures courtesy of Canary Data.
“So, What Exactly Is Mark Walter’s Deal?” (The Ringer)
“The short answer is that it just seems to be Deals, like the way Ken’s job is Beach. [Guggenheim CEO] Walter owns insurance companies and holds holding companies and accumulates big stakes in enterprises like Carvana (huge red flag!) and Beyond Meat… He has a stake in Chelsea football and helped launch the Cadillac (née Andretti) Formula One team. Last spring, through his holding company TWG Global—which he began in 2024 with a guy named Thomas Tull, who founded Legendary Pictures and thinks we might have a shot at resurrecting the dodo bird—he partnered with Palantir to explore opportunities in the realm of AI.”
Culper@CulperResearch
In May 2026, $ADMA claimed an internal review (which hadn't been announced prior) cleared the Company of improper conduct. Today, July 2026 FOIA logs suggest that $ADMA may be subject to a new, undisclosed SEC investigation. Still short.
Culper @CulperResearch
NEW: We are short ADMA Biologics $ADMA. We believe the ASCENIV growth story is in reality a story of channel stuffing and an undisclosed related party distributor. Real revenues declined 3% in 2025 vs. 20% reported growth. It's already over. Full report available on our website.
4:24 PM · Aug 13, 2026 · 5.39K Views
1 Reply · 1 Repost · 10 Likes
FuzzyPanda@FuzzyPandaShort
DOJ & SEC investigations into $FRMI Friday afternoon discovery buried in the 10-Q
12:02 AM · Aug 15, 2026 · 15.8K Views
12 Replies · 3 Reposts · 37 Likes
Morpheus Research@MorpheusRes
UPDATE: In May, we said that $INV was propped up by a fake 300MW data center deal with “DarkNX” — a clearly phony counterparty. Despite calling our report “selective and misleading,” Innventure announced today that the mysterious data center site is suddenly “no longer
Morpheus Research @MorpheusRes
NEW REPORT: Innventure, Inc (NASDAQ: INV) Innventure: The Latest Iteration Of A Decades-Long Grift Propped Up By A Fake 300MW Data Center Deal https://t.co/VnP6IXXzPm $INV (1/x)
10:23 PM · Aug 13, 2026 · 23.4K Views
11 Replies · 4 Reposts · 114 Likes
peepeepoopoo@DeepDishEnjoyer
this is not that surprising to anyone that knows what their business direction and scale is now
Finance News @ftfinancenews
Jane Street suffers $15bn loss in July market ructions https://t.co/zTBoBahfp9
9:29 PM · Aug 14, 2026 · 151K Views
22 Replies · 6 Reposts · 701 Likes
Hunterbrook@hntrbrkmedia
NEW: America's largest mortgage lender made a giant $27.5 billion bet that interest rates would go down. The bet failed. Last week $UWMC suspended its dividend and signed an emergency rescue with the distressed situations desk at Oaktree.
11:38 PM · Aug 11, 2026 · 2.55M Views
57 Replies · 233 Reposts · 2.22K Likes
A Capital@ACapitalLP
$NUTX is a regulatory loophole masquerading as a healthcare business. 30%+ EBITDA margins are driven by gaming the No Surprises Act IDR process and winning 85%+ of arbitrations. Eventually payors or regulators close the faucet…
Finsee @Finsee_main
$NUTX Q2 2026 earnings: Profits Surge on Retroactive Contract Rewrite While Revenue Normalizes Downward Nutex Health reported a superficially spectacular Q2, with Net Income swinging to a positive $65.8M (EPS $9.38) and Adjusted EBITDA reaching $90.0M. However, earnings quality
1:23 AM · Aug 11, 2026 · 4.47K Views
4 Replies · 8 Likes
Hiroo Onoda@OnodaCapital
Any company that spends the time, money, words. and mental gymnastics to do a raise like this is an auto-permashort
Kaz Nejatian @nejatian
Some news. Today, for the first time in Opendoor's history, we bought back our own stock. Our share count is down 5%. We paid for this buyback with money borrowed at a 0% coupon and we still have hundreds of millions of dollars left to grow faster. There are plenty of helpful
1:27 PM · Aug 13, 2026 · 17.6K Views
8 Replies · 3 Reposts · 135 Likes
Consensus Media@ConsensusGurus
So we had insider trading in $BIRK in anticipation of positive results (massive put sale). Prior to that they orchestrated a short squeeze via buyback. Now insiders are jumping ship via a share sale. What a company.
8:57 PM · Aug 13, 2026 · 3.37K Views
1 Reply · 7 Likes
Yet another commodity guy@tleilax___
Collateralized Cheese Obligations defaulting, again ?
Polymarket @Polymarket
JUST IN: Extreme heat is threatening Italy’s “cheese banks,” where hundreds of thousands of Parmigiano-Reggiano wheels are stored as loan collateral.
2:04 PM · Aug 10, 2026 · 677K Views
45 Replies · 506 Reposts · 7.88K Likes
Until Thursday,
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