Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Perion Network Ltd. (Nasdaq / TASE: PERI)
However, in the February to March 2023 timeframe, Perion removed Yandex as a search partner on CodeFuel’s website.
- However, in the February to March 2023 timeframe, Perion removed Yandex as a search partner on CodeFuel’s website.
- In Q1 2023, Perion also reported that revenue per search day declined -35% and -21% quarter-over-quarter and year-over-year, respectively.
- Perion’s capital raising practices are troubling, and Spruce Point believes that Perion’s financing activities are a major red flag.
- As disclosed, Spruce Point has a short position in Perion Network, Ltd. and owns derivative securities that stand to net benefit if its share price falls.