Amaya Inc.
Thesis
Amaya is another short candidate for Marc Cohodes, who points out its high leverage and questionable management practices. He suggests that the company's capital structure is problematic and that it is likely to face significant challenges moving forward, especially given the current state of its leadership.
Did it work?
No price data is available, but the thesis's core events largely came to pass: Amaya's leadership came under serious pressure, with CEO David Baazov charged with insider trading by Quebec regulators in 2016 and subsequently stepping aside, and the company ultimately underwent major structural change (eventually becoming The Stars Group). The stock suffered a severe decline from its post-2014 highs, consistent with Cohodes' short thesis on leverage and management problems. Because this judgment relies on recalled events rather than provided price data, confidence is low.