World Acceptance Corp.
Thesis
Short World Acceptance Corp. (NASDAQ: WRLD) with a target price of $46, a 48% short upside from its current level. The core business is deteriorating with increasing delinquency rates and regulatory pressures that could further erode interest income. Additionally, management disruptions and a high level of insider selling raise concerns about the company's future performance.
Did it work?
The short thesis targeted a decline to $46 (48% downside) on deteriorating credit quality and regulatory pressure. Over the ~12.6 years since the pitch, the stock fell roughly 112% per the provided data, blowing through the $46 target by a wide margin and validating the thesis's core concerns about business deterioration. With the stated target decisively exceeded and far more than any reasonable horizon elapsed, this is a clear win for the short.