Added to YB: 2026-05-01
Pitch date: 2026-04-30
SHAZ [bearish]
SharonAI Holdings Inc.
Author Info
Bleecker Street Research is an activist short-seller exposing overvalued stocks. Sign up for the newsletter.
Company Info
SharonAI Holdings Inc. operates as a computing company specializing in accelerated compute platforms, AI infrastructure, and cloud GPU environments.
Market Cap
$737.1M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-78.08
P/E
-11.30
EV/Sales
510.57
Sector
IT Services
Category
special_situation
SharonAI (SHAZ): The CEO Mawson Accused of Self-Dealing Now Runs a Neocloud Built on Phantom Contracts and Questionable Financing
SHAZ (short): CEO Manning, sued by prior co MIGI for $11.5M self-dealing via Flynt ICS (now SHAZ vendor), runs neocloud on $1.25B contract w/ ESDS—Indian co that earned $5.8M FY25, $69.5M assets vs $140M L/C requirement. 76% of Compass PT relies on ESDS. $500M USD.AI facility from DeFi protocol w/ only $284M capacity across 3 borrowers. $350M Oaktree convert requires new 4,068 GPU contract to close. Insiders sold private entities into shell at self-determined values; Vertua marked DSS at $0 in 9/23, sold to SHAZ for $25M in 6/24. 10-K falsely stated NVIDIA was shareholder, corrected 13 days later. Lucid initiated $50 PT same day filing to sell $16.7M insider stock. Manning threatened to 'burn MIGI to ground,' guided to 5.5 EH/s capacity at MIGI, delivered <2/3. Same playbook repeating.
Read full article (31 min)