ANALYSIS: Q3 Activism Solidifies 2023’s Record-Breaking Path

Oct. 4, 2023, 9:00 AM UTC

It’s been a busy quarter—and a busy year—for activists.

Activist investors launched 147 campaigns in Q3, the highest count for a third quarter since Bloomberg began tracking global investor activism in 2017.

Q3’s record campaign counts—stacked on top of a bustling Q1 and Q2—are setting 2023 on course for having the highest year-end totals in at least six years.

Micro-caps Make Big Difference

What’s responsible for the bustling Q3? A contributing factor may be activists targeting micro-cap companies (companies with a market capitalization of less than $300M).

The number of campaigns launched against micro-cap companies has increased over the past ...

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