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        <title><![CDATA[Dave Portnoy slammed by short-seller over tech firm investment]]></title>
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            <media:title type="html">Dave Portnoy slammed by short-seller over tech firm investment</media:title>
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        <content:encoded><![CDATA[<p>Dave Portnoy says he buys stocks based on his mantra that they &#8220;only go up&#8221; — but a muckraking short-seller thinks one of his bets is in for a stomach-churning plunge.</p><p>The famously flippant Barstool Sports founder &#8212; who has become a face <strong>for the&nbsp;recent day-trading boom</strong>&nbsp;since the coronavirus shut down this year&#8217;s sports seasons &#8212; has lately been touting shares of an obscure Las Vegas-based tech firm called Remark Holdings.</p><p>But in a Tuesday presentation to investors, Dan David of Wolfpack Research raised a host of red flags about Remark, including alleged ties to a blacklisted Chinese company and a CEO with a pile of gambling debts. Remark&#8217;s &#8220;less than worthless&#8221; shares, which trade under the ticker symbol MARK, are an ill-advised bet that could lead Portnoy&#8217;s fans to lose serious money, according to David.</p><p>&#8220;He’s a menace,&#8221; David said of Portnoy in a Tuesday presentation at the Contrarian Investor Virtual Conference. &#8220;He does not research. He hears from what he calls the birds on Twitter, they tell him this is a great company, and he starts pumping it.&#8221;</p><p>&#8220;These are average people just getting annihilated and this jackass doesn’t care,&#8221; David added.</p><p>Portnoy &#8212; who has amassed a large following of amateur investors on Twitter, adopting the moniker &#8220;Davey Day Trader&#8221; despite warning them not to &#8220;trust anything I say about stocks&#8221; &#8212; has been on a wild ride with Remark, a stock he said he bought on the recommendation of &#8220;acquaintances.&#8221;</p><p>Remark shares&nbsp;— which rose as high as $3.56 on May 27, a day before Portnoy first mentioned the stock on Twitter —&nbsp;closed at $1.86 on Tuesday, up 1 cent.</p><p>In his daily trading livestreams on Twitter, Portnoy has&nbsp;<a href="https://twitter.com/stoolpresidente/status/1282765630748360705" rel="noopener noreferrer" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://twitter.com/stoolpresidente/status/1282765630748360705&amp;source=gmail&amp;ust=1597264986002000&amp;usg=AFQjCNEZYKqsTWC9mjXmtLbyUDQPwlApEQ">bemoaned</a>&nbsp;the company — which offers artificial-intelligence systems in China and thermal cameras in the US — as the &#8220;WOAT,&#8221; or &#8220;worst of all time,&#8221; on bad days, only to boast about its gains on good ones.</p><p>&#8220;Those who stay will become champions!&#8221; Portnoy&nbsp;<a href="https://twitter.com/stoolpresidente/status/1286299553336102913" rel="noopener noreferrer" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://twitter.com/stoolpresidente/status/1286299553336102913&amp;source=gmail&amp;ust=1597264986002000&amp;usg=AFQjCNGKxrTgZ5i-ZG6G5qMZbB2Cc3CAnQ">exclaimed</a>&nbsp;July 23, when the stock rose 5.6 percent to $1.49 after weathering a two-week tumble that nearly cut the shares in half. &#8220;That&#8217;s why you never jump ship, because it doesn&#8217;t matter what company, doesn&#8217;t matter how bad they are&#8230; Give it time, and what happens, people? Stocks always go up.&#8221;</p><p>But there are plenty of reasons to jump ship on Remark, according to David, who went short on the company after hearing Portnoy&#8217;s ramblings about it.</p><p>For one, David claims, the company is selling thermal cameras that are just repackaged cameras made by Hikvision, a Chinese firm the US Commerce Department placed on its &#8220;entity list&#8221; last year after finding that it posed a national security risk. His <strong>presentation</strong>&nbsp;included photos of Remark&#8217;s products next to Hikvision&#8217;s apparently identical cameras.</p><p>Hikvision&#8217;s placement on the blacklist restricts American companies from doing business with it — opening up potential legal problems for Remark, which has admitted that Hikvision is one of its suppliers, according to David.</p><p>David also pointed to several legal battles that Remark is entangled in, including one that could cost it its stake in&nbsp;Sharecare, a buzzy health-care firm co-founded by celebrity doctor Mehmet Oz.</p><p>Remark CEO Kai-Shing Tao has also landed himself in court over $86,000 in gambling debts to Las Vegas&#8217;s Bellagio and Aria casinos, suggesting he &#8220;runs his personal finances the same way he runs his company,&#8221; David said.</p><p>&#8220;Our investment thesis for MARK is the same investment thesis we had for any of the companies in the China hustle: F&#8212; ‘em, they’re lying,&#8221; David said. &#8220;And f&#8212; you too, Davey Day Trader.&#8221;</p><p>Remark did not immediately respond to a request for comment on David&#8217;s claims, and a Barstool Sports rep&nbsp;did not immediately comment&nbsp;on Portnoy&#8217;s behalf.</p><p>Remark isn&#8217;t the only small-cap company Portnoy has promoted. He&nbsp;<a href="https://twitter.com/stoolpresidente/status/1270714604021145601?s=20" rel="noopener noreferrer" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://twitter.com/stoolpresidente/status/1270714604021145601?s%3D20&amp;source=gmail&amp;ust=1597264986002000&amp;usg=AFQjCNHelkg2h37k39aqiChJLddZ_ESbzQ">claimed</a>&nbsp;in June that he bought a stake in a company called InspireMD — whose shares were&nbsp;closed at 44.5 cents&nbsp;Tuesday afternoon — after getting a tip from a woman he went on a date with.</p><p>&#8220;Bought 400 grand just to impress her,&#8221; Portnoy said. &#8220;That&#8217;s how you trade. It&#8217;s not always the X&#8217;s and the O&#8217;s like Warren Buffett likes to tell you.&#8221;</p>]]></content:encoded>
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