Iceberg research retook the limelight after posting a series of tweets about covering their AMC short position.
It’s unclear if the little known company even bought AMC shares in first place, except for their tweets back in July that was widely covered by mainstream media. Iceberg Research revealed its short position (via a series of tweets) on AMC in July 2021, which affected its stock price.
Who is behind Iceberg Research
Arnaud Vagner claims to be the main short-seller behind Iceberg. The company made headlines in 2015 for publishing a report on massive accounting fraud by Noble group, one of the biggest commodity traders at that time. The Noble Group sued Arnaud and eventually went bankrupt, losing more than 99% of their stock value. Arnaud Vagner had worked as a credit analyst with the Noble group between 2011 and 2013. This was how he procured inside information.
Is Iceberg Research legit
Iceberg Research identifies itself as a financial analysis firm specializing in identifying corporate fraud. In an interview to Hecstories, Arnaud Vagner told “Today, Iceberg Research is a short seller: we pay ourselves by taking short positions on the share prices or bonds of the companies whose fraudulent practices we are exposing.”
We are not sure if this is even legal in the States – it sounds like pure market manipulation – as unless their reports are proved to be accurate by the court of law, these are only allegations and are moving the market based on their publishings.
Iceberg Research recently released reports on Diginex ($EQOS) and EOS energy ($EOSE).
Iceberg Research hedge fund
We couldn’t find any registration details of Iceberg research in the US and no SEC filings for their trades. There are only news headlines (and news articles), tweets and interviews that name them as a hedge fund; no official documentation.
The only other explanation is that Iceberg Research is a blog site and its owner Arnaud Vagner is shorting stocks as an individual rather than a company.
Iceberg Research and AMC
AMC is one of the most popular stocks trending on Social Media; Iceberg research may want to grab some media attention for the next big thing. Their recent reports didn’t get much traction as compared to their Noble group report series.
Their about us page clearly states that “Iceberg Research identifies substantial earnings misrepresentation and accounting irregularities in financial statements issued by public companies.
Complacent auditors are rarely subjected to fines despite their role in a growing number of accounting scandals. Too often, they validate fraudulent or highly misleading accounts, and discreetly write their “reserves” at the end of the annual report.”
AMC doesn’t fall into any of these categories.
There are neither regulatory filings nor any financial statements; One could only presume that their tweets on AMC are a mere marketing campaign trying to stay relevant in the business world. OR maybe Arnaud Vagner is striving to become the next Edward Snowden. Who knows!