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Gotham City Research Profile picture
Gotham City Research
@GothamResearch
Nov 19 • 5 tweets • 2 min read
The Dark Side of Iron Mountain $IRM: from a Melting Ice Cube, to a House on Fire

Please visit our website for the full report: gothamcityresearch.com link to the $IRM report: gothamcityresearch.com/post/the-dark-…
Jul 24 • 7 tweets • 2 min read
The Truth about $TPL, Horizon, and the
Asset/Liability Mismatch

visit our website for the full report:
gothamcityresearch.com From a Bloomberg terminal it looks as if Horizon Kinetics and/or its Founder Murray Stahl are steady, long-time buyers of $TPL Stock (see the sea of green below): Image
Jul 24 • 11 tweets • 2 min read
Landbridge Holdings $LB: A Related Party Dance, with a Circular Shuffle

Please visit our website for the full report: gothamcityresearch.com $LB bulls promote the company as a "data center play". We see it as a related party scheme, with a circular flow of funds: related parties inject LB with funds, these funds suspiciously boost LB’s financial results which inflates LB stock, and related parties monetize by selling stock. We estimate that this circular flow of money has been highly remunerative:Image
Sep 26, 2024 • 7 tweets • 2 min read
Mutares Research Report

link to our report:

Mutares reminds us of Aurelius, a company we wrote about in 2017 (whose shares are -78% since), except we believe Mutares is worsegothamcityresearch.com/post/mutares-s… Mutares reminds us of Aurelius for many reasons, including:

· We see a rapid rise in & high levels of income from negative goodwill.
· Published holdco earnings don't seem to convert to cash flows over time.
· we find 50% of portfolio companies’ outcomes post sale suspect.
Jan 9, 2024 • 7 tweets • 2 min read
Grifols SA: Scranton and the Undisclosed Debts

for the full report -
gothamcityresearch.com/post/grifols-s…
Image Both GRF and Scranton Enterprises (a Grifols family vehicle) fully consolidate BPC + Haema. BPC + Haema are very material to both GRF and Scranton's earnings and overall financial statements. We believe this treatment is deceptive and incorrect. Are their creditors aware?
Jun 22, 2023 • 10 tweets • 2 min read
SES Imagotag SESL: THE CIRCULAR DANCE WITH A CHINESE TWIRL – PART I

gothamcityresearch.com/post/ses-imago… BOE is the largest shareholder, largest supplier, one of the largest customers, JV partner, and on the audit committee. Potential for financial malfeasance is high.
Feb 25, 2021 • 6 tweets • 2 min read
Our thoughts on Criteo: We believe the business and the stock $CRTO have room to 🚀🚀🚀

thread We initiated coverage of $CRTO as a long last year, when $CRTO was $9. Recently the stock traded at $36. Acquirers have expressed interest in acquiring CRTO, & the company has shown signs of transforming its business, validating our thesis from last year: