BOLLWERK AI

Building 'The Transparency Era' on Wall Street. In pursuit of truth. Interested institutions & individuals can skip the waitlist here:

[BOLLWERK AI @BollwerkAI]

$NVCR flag here: https://t.co/Cdkke8Bpn5

[BOLLWERK AI @BollwerkAI]

NovoCure $NVCR disclosed that its Phase 3 TRIDENT trial FAILED to show a statistically significant overall survival benefit on its primary endpoint. A pivotal Phase 3 miss can impair the company’s ability to expand the treatment’s labeled use or support broader adoption of the earlier-start regimen.

[BOLLWERK AI @BollwerkAI]

Grizzly Research are short 2CRSI SA $AL2SI.PA $AL2SI.FR

[Grizzly Research @ResearchGrizzly]

We are Short 2CRSI SA

2CRSi Caught Red-Handed: Fabricated Revenues & Projections via Undisclosed Related Parties

Read Our New Report Here: https://t.co/o2fqwxc3Xp

[BOLLWERK AI @BollwerkAI]

On 30 April, based on a 6-K filing by $GIL, we issued 13 flags, including accounting policy cahnges, cash burn and asset write-offs.

[BOLLWERK AI @BollwerkAI]

Jehoshaphat Research are short $GIL.

[Jehoshaphat Research @JehoshaphatRsch]

OUR NEW SHORT: $GIL

We are short Gildan Activewear, a basic apparel manufacturer based in Canada and listed on both the NYSE and TSX. Below is just a summary of some of our opinons about this company; for the full short thesis, including endnotes and our very important disclaimer about our financial interests and how they work, please see the Jehoshaphat Research website.

1) Our forensic analysis concludes that GIL’s “true” organic growth is negative and has been for years, contrasting sharply with its appearance of revenue growth. This underlying decline has been obscured by financial engineering.

2) In our opinion, GIL has been “stuffing” its distributors and other customers with product far in excess of underlying end user demand. This, in our analysis, has led to an overhang of product worth around half a billion dollars, and this contrasts with consensus Street forecasts for 2026 that don’t make sense. The acquisition of Hanes presents additional challenges, too many to list here but detailed in our thesis.

3) Former employees and distributors report aggressive, concerning practices such as ones that “compel the distributors to bring forward some purchases,” or offering extended terms at quarter-ends to “move sales from Q2 to Q1,” etc. These quotes are provided in context in our thesis.

4) We believe this misleading picture of organic growth started to form around 2024, following the mass resignation of the GIL board of directors. Is that a coincidence, or is the new Board less interested in policing Management than the old Board?

We always leave some of the more interesting things for readers of the full opinion, so we encourage you to visit our website and download the PDF of our short thesis, paying attention as well to our very important disclaimer. Comments and corrections welcome at our website or our email address.

[BOLLWERK AI @BollwerkAI]

SpaceX $SPCX enters into agreement to acquire Anysphere for $60B, the company behind Cursor (@cursor_ai).

We flagged this 55secs after the filing was published.

Can we be quicker?

Link to filing: https://t.co/JAYZDg557J

[BOLLWERK AI @BollwerkAI]

@RHouseResearch @ACapitalLP Shorting a Leopold neocloud with new Nvidia commitments in this market takes erm extra courage. $SHAZ

[BOLLWERK AI @BollwerkAI]

MuddyWaters are short $ENSG – Hunterbrook (@hntrbrkmedia) published 3 days ago.

[MuddyWatersResearch @muddywatersre]

MW is short $ENSG. We believe Ensign rents Administrator licenses at est. ~20% of its SNFs to deceive CMS & the states. We estimate compliance alone cuts 2027 EBIT ~35% vs consensus & slows growth from ~11% to ~2%. FCA exposure possibly in Billions of $. Report link follows

[BOLLWERK AI @BollwerkAI]

@miller_uri Appreciate the mention!

[BOLLWERK AI @BollwerkAI]

@coffeebreak_YT @hntrbrkmedia Any other candidates Coffee?

[BOLLWERK AI @BollwerkAI]

Hunterbrook are short Ensign $ENSG.

[Hunterbrook @hntrbrkmedia]

NEW: Ensign ($ENSG) is a $10 billion skilled nursing facility roll-up that markets 5-star ratings and "industry-leading" outcomes.

The numbers are a mirage. Behind them is understaffing, which experts told Hunterbrook may be illegal under both federal and state law.

[BOLLWERK AI @BollwerkAI]

Research note on $CITR from our colleagues at @Pelicanwayre.

[Pelican Way Research @Pelicanwayre]

1/8: Today we have released a negative opinion piece on $CITR (CitroTech, Inc). We believe the stock is being brought to the market by various promoters who are luring investors into a trap built on a three-decade-old product that has never been commercialized at scale. We encourage you to read our full report and disclaimer on our website, which is linked in our bio.

[BOLLWERK AI @BollwerkAI]

@AnthropicAI pls share the draft

[BOLLWERK AI @BollwerkAI]

D-Wave ($QBTS) is pursuing a $100 million CHIPS Act equity investment from the U.S. Department of Commerce as it integrates its $250 million acquisition of Quantum Circuits to accelerate a gate-model roadmap targeting production readiness in over five years. While the company has raised more than $1 billion since 2024 to fund its dual-platform strategy, it faces significant ongoing capital burn with analysts projecting a $118.5 million EBITDA loss for 2026.

[BOLLWERK AI @BollwerkAI]

Ningi Research are short $SIVE.ST.

Two Sigma and Voleon are short; a few hedge funds recently reported stakes below 0.5%, so they might still have positions.

Borrow fee is high at 40%.

[NINGI RESEARCH @NingiResearch]

We are short $SIVE.

A retail-driven pump built on speculative hyperscaler links, a fabricated bottleneck narrative, and a rumored volume ramp-up has driven a 1,800%+ rally in $SIVE.ST.

Insiders sold ~29M shares into it. Here's what they're not telling you.👇 Full report: https://t.co/4QEyuXQIQb

[BOLLWERK AI @BollwerkAI]

Morpheus Research are short Innventure $INV.

[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)

[BOLLWERK AI @BollwerkAI]

$ATS Q4/FY26 mixed but improving: FY rev $2.97B (+17%), adj EBITDA $413M (+12%), NI $71.7M vs loss LY, FCF $372M, leverage down to 2.8x.

But Q4 still posted a loss, adj EPS slipped, bookings fell 18%, backlog down 9%, and transport restructuring remains a drag.

[BOLLWERK AI @BollwerkAI]

@DispatchEq8210 This $WHR?

[BOLLWERK AI @BollwerkAI]

@FuzzyPandaShort That was a big one! $TE

[BOLLWERK AI @BollwerkAI]

Details here: https://t.co/YPLZ6gVso7

[BOLLWERK AI @BollwerkAI]

D-Wave Quantum $QBTS out with a rather unusual statement:

Says recent classical simulation work did not overturn its quantum supremacy / beyond-classical quantum simulation result. Company argues the new work didn’t reproduce the hardest instances, full observables, or full scope of its peer-reviewed Science paper. Management frames the new classical methods as progress; not a rebuttal.