Activist short selling focused on publicly traded frauds and promotes.

Scorpion Capital specializes in intensive, differentiated research which uncovers what investors have missed and Wall Street is paid to ignore. Our investigations seek to “crack the case" through a persistent and thorough process for which other market participants may lack the bandwidth or inclination. We aim to publish the most rigorous due diligence conducted to date on each fraud or promote that we target.

 

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Most recent research

June 5, 2024 JST

Lasertec Corporation (TOKYO: 6920)

カチカチと秒読みをはじめた時限爆弾。場所は日本。

厖大な詐欺を働いている企業がある。株式市場で売買代金首位の銘柄だ。

オリンパス、東芝ほかの悪名高い粉飾決算事件を想起させる。その内実は——

スライド・プレゼンテーション(334ページ)>

詳細サマリー(54ページ)>

June 5, 2024 JST

Lasertec Corporation (TOKYO: 6920)

Japan’s Most Actively Traded Stock Is A Colossal Fraud And Ticking Time Bomb, Reminiscent of Olympus, Toshiba, And Other Infamous Accounting Scandals

Slide presentation (334 pages) >

Detailed summary/key findings (text, 53 pages) >

March 28th, 2023

Harmony Biosciences (NASDAQ: HRMY)

The Latest Price-Gouging Ploy By The Grifter Who Inspired Convicted Felon Martin Shkreli, But This Time People Have Blood On Their Hands: A $175,000 Per Year Drug With Alarming Toxicity And A Trail Of Covered-Up Deaths And Injuries; No Efficacy; A Non-Existent Mechanism Of Action; Sham Patents; Based On Scam Clinical Trials In Places Like Russia and Turkey By A French Quack; Pushed Via False Advertising And A Vast Off-Label And Physician Kickback Scheme

Download PDF >

FDA Citizen Petition >

November 15th, 2022

Twist Bioscience (NASDAQ: TWST)

A Cash-Burning Inferno That Is Not A Going Concern, Operating A Ponzi-Like Scheme That Will End In Bankruptcy. Just Another “Synthetic Biology” Swindle, This Time With An Absurd “Silicon DNA Chip” And Financials So Phony It May Be Criminal. Target Price: $0.

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May 3rd, 2022

IonQ (NYSE: IONQ)

The “World’s Most Powerful Quantum Computer” Is A Hoax With Staged Nikola-Style Photos – An Absurd VC Pump With A Recent Lock-Up Expiration Takes SPAC Abuses To New Extremes

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October 6th, 2021

Ginkgo Bioworks (NYSE: DNA)

A Snake Oil Salesman And Some Hedge Funds Partner Up To Pimp The Latest “Synthetic Biology” Scam — As Phantom Revenue, A Hocus-Pocus Business Model, Rampant Related-Party Games, And A Decade of Colossal Failure Get Shoveled Into Yet Another Garbage SPAC.

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September 15th, 2021

Berkeley Lights (NASDAQ: BLI)

Fleecing Customers And IPO Bagholders With A $2 Million Black Box That’s A Clunker, While Insiders and Silicon Valley Bigwigs Race To Dump Stock. Just Another VC Pump at 27X Sales. Target Price: $0.

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April 15th, 2021

Quantumscape (NYSE: QS)

A Pump and Dump SPAC Scam by Silicon Valley Celebrities, That Makes Theranos Look Like Amateurs

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January 7th, 2021

Nevro (NYSE: NVRO)

A Failed One-Trick Pony At 15X Sales, Reeking of Study Fraud, Kickbacks, And A Covered-Up Explants Crisis That Merits An FDA Recall

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Links to research published on behalf of and by a previous firm

December 18, 2019

Allakos (NASDAQ: ALLK)

A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud

Report Summary and PDF >

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December 18, 2018

Axogen (NASDAQ: AXGN)

An Overhyped, Cash-Burning Reverse Merger at 12X Revenue

Report Summary and PDF >

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August 27th, 2018

Fanhua (NASDAQ: FANH)

A Questionable Company with a History of Alleged Fraud

Report Summary and PDF >