Poking holes
Short seller torches Sharon AI before ASX float.
Good morning.
Bleecker Street Research published an aggressive short report against Firmus rival Sharon AI last week, just as the company was reportedly meeting potential ASX investors.
The fund questions the validity of its USD1.25 billion anchor contract and targets chief executive James Manning.
A Street Talk piece over the weekend doesn’t exactly rebut the report directly, but it presents certain facts that push back on Bleecker’s central claim that the ESDS contract cannot perform.
Popcorn, anyone?
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Shares in big four lender ANZ fell on Friday despite posting a first-half cash profit of $3.78 billion that came above market consensus, as investors focused on disappointing revenue trends that UBS analyst John Storey said cast doubt over the bank’s longer-term growth trajectory. Storey concluded the result was “driven by better-than- expected costs, coupled with lower-than-expected credit impairments” rather than the revenue momentum needed to meet the bank’s FY28–FY30 targets.
