{"id":9448,"date":"2021-07-06T12:00:06","date_gmt":"2021-07-06T12:00:06","guid":{"rendered":"https:\/\/www.furman.edu\/news\/2021\/07\/06\/why-this-former-kingsford-analyst-is-launching-an-activist-short-fund\/"},"modified":"2022-09-07T15:41:49","modified_gmt":"2022-09-07T19:41:49","slug":"why-this-former-kingsford-analyst-is-launching-an-activist-short-fund","status":"publish","type":"post","link":"https:\/\/www.furman.edu\/news\/why-this-former-kingsford-analyst-is-launching-an-activist-short-fund\/","title":{"rendered":"Why this former Kingsford analyst is launching an activist short fund"},"content":{"rendered":"<p>Known for <a href=\"https:\/\/www.nytimes.com\/interactive\/2017\/12\/27\/business\/drug-addiction-rehab.html\">calling out American Addiction Centers<\/a> for widespread negligence, Chris Drose, a 2016 Furman University alumnus, is in the news again. The English major and former analyst at short-biased hedge fund Kingsford Capital is launching a new activist short fund &#8211; Bleecker Street Capital &#8211; according to an article in <strong><a href=\"https:\/\/www.institutionalinvestor.com\/article\/b1sh88fcnxmc2d\/Why-This-Former-Kingsford-Analyst-Is-Launching-an-Activist-Short-Fund-Short-Selling-Woes-Be-Damned\">Institutional Investor<\/a><\/strong>.<\/p>\n<p>The name is a nod to Drose&#8217;s blog, Bleecker Street Research, where he broke a story in 2014 about questionable practices at AAC &#8211; a story that led to second-degree murder charges against parent company American Addiction Centers Holdings, Inc. The charges were later dropped, but the company suffered a 54% blow to its stock price, reducing its market capitalization by $387 million &#8211; a boon to short sellers who betted against the company.<\/p>\n<p>Drose says the timing is right for his new fund. &#8220;This year has been a fantastic year for activist short selling &#8230; There are always things that are working,\u201d said Drose, citing solid performance of many activist shorts plays this year, namely among electric vehicle companies and special purpose acquisition companies (SPACs).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Known for calling out American Addiction Centers for widespread negligence, Chris Drose, a 2016 Furman University alumnus, is in the news again. The English major and former analyst at short-biased [&hellip;]<\/p>\n","protected":false},"author":257,"featured_media":9449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15,3,31,6],"tags":[919,920,921,922,923],"class_list":["post-9448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academic-department-page","category-alumni","category-english","category-in-the-news","tag-activist-hedge-fund","tag-activist-short-fund","tag-american-addiction-centers","tag-short-selling","tag-stocks"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts\/9448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/users\/257"}],"replies":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/comments?post=9448"}],"version-history":[{"count":0,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts\/9448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/media\/9449"}],"wp:attachment":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/media?parent=9448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/categories?post=9448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/tags?post=9448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}