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“I’m short this piece of s%!t Trupanion $TRUP,” Cohodes said Friday on a Hedgeye live interview. “They’re in pet insurance. They’re ripping off the consumer with pet insurance pricing.”
Cohodes most recently called the fraud at FTX and was outspokenly short Silvergate Capital (NYSE:SI) and Signature Bank before their collapse.
Shares of Trupanion fell nearly 20% Friday after posting disappointing Q1 results. They reported Q1 EPS of ($0.60), $0.33 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $256.3 million versus the consensus estimate of $251.68M.
Over the weekend, BofA Securities analysts downgraded Trupanion from Buy to Neutral with a price target of $32.00
Shares of Trupanion are down another 4.6% in pre-open trading Monday.
