00:00People focus on vulnerability to activism, but as Carmen said, there's got to be a way for the
00:05activists to make money. And, you know, we're also just coming off a record first half of the
00:10year in terms of the M&A market. Guess what? The number one platform for activists is push the
00:15company to sell itself. And so not surprising that has driven the demand for activism.
00:21By the way, we have just seen a lot of volatility within single name stocks themselves. I mean,
00:25IBM can sell off 22 percent in one day on a small release. Sean, does that increase activism or does
00:32it make them a little wary when the stock is so volatile to really jump in? Well, yeah, we're
00:36spending a lot of time with clients facing what we call a very jittery market. So, you know, whether
00:41it's a big miss or even the slightest of misses on earnings, you're seeing massive swings in stock
00:47prices. So that makes that makes companies feel vulnerable. Like, no doubt, activism is just one
00:53piece of the vulnerability puzzle there. But I think the question for the activist, you know,
00:58investor would be, yeah, they're vulnerable, they're cheap, I can buy a big stake. But like,
01:02can I make money? And is this a falling knife? Is this a permanent re-rate of the stock? Or
01:08do I
01:08actually have a lever to make money? And when we're spending time with clients trying to help them
01:12prepare for this, that's the main area of focus. It's like, how do you anticipate those arguments
01:17and be ready, you know, if they throw that in your face?
Comments