Bubble bursters Hindenburg research released a report on Chamath's SPAC $CLOV
Hindenburg research are self proclaimed bubble poppers. I know them for their famous Nikola($NKLA) report. Today they released a report about Clover Health, a recent SPAC handled by Chamath and social capital.
I don't know what to make of it with current anti short climate and Chamath being a vocal advocate there although they say they've no positions and they've been doing this report for 4 months. This report does raise some damn good questions. There were open DOJ investigations, CEO with shady past and some malpractices to show sales.
The wildest thing i read was that Social Capital(Chamath's investment firm) got 20 million founders shares for 25k and promoting the company. They're worth 290 million now!!
Imagine if this was a key driver to select a company for SPAC!
https://twitter.com/HindenburgRes/status/1357317294473547777?s=19
I kinda like Chamath as he's a good orator in general, disagree with many of his views, but this is some really shady shit if true. What are your thoughts on this?
#chamath #spac
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