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Equity Research

Wedbush Equity Research is focused on delivering alpha within the Technology, Internet and Media, Healthcare, Specialty Finance, and Special Situation verticals. We produce original thought, proprietary research products, and highlight critical data points, which anticipate early industry trends and inflection points. Our research professionals deliver industry-leading and nationally recognized insight.

Meet our Analysts

Technology, Internet, and Media:

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Daniel Ives

Disruptive Technology, Software
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Matthew Bryson

Hardware, Semiconductors
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Scott Devitt

Internet, E-commerce, Online Travel
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Alicia Reese

Media & Entertainment, Consumer Entertainment Products
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Antoine Legault

Quantum Computing

Healthcare:

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David Nierengarten, Ph.D.

Biotechnology
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Laura Chico, Ph.D.

Biotechnology
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Robert Driscoll, Ph.D.

Biotechnology
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Yun Zhong

Biotechnology
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Martin Fan, Ph.D.

Biotechnology

Specialty Finance:

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Henry Coffey

Speciality Finance

Special Situations:

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Mike Piccolo

Special Situations

Equity Research Leadership

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Kirsten Fraunces

Executive Vice President, Chief Administrative Officer
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Seth Basham, CFA®

Managing Director, Director of Research

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Daniel Ives

Managing Director, Global Head of Technology Research

Daniel (Dan) Ives is a Managing Director and Senior Equity Research Analyst covering the Technology sector at Wedbush Securities since 2018. Dan is also Global Head of Technology Research at Wedbush. Dan has been a tech analyst on Wall Street for 25 years covering the software and the broader technology sector. He spent the first few years of his career as a financial analyst at HBO and then received his MBA in Finance before becoming a globally known technology equity research analyst and Managing Director with FBR Capital Markets for 16 years, focusing on the enterprise software/hardware sectors including cyber security, cloud computing, big data technology, and the mobile landscape. A major area of his research focus is the AI Revolution and disruptive technology buildout over the next decade. Dan is a highly sought-after tech expert around the world, has been a keynote speaker across the US, Europe, Australia, and Asia and regularly makes television appearances on networks such as CNBC, Bloomberg, CNN, Fox News, BBC, NBC, CBS, ABC, MSNBC, France 24, Sky News, ABC Australia, TV Tokyo and many networks around the world to provide commentary related to his technology expertise. Dan has also appeared on The Today Show, Good Morning America, CBS Mornings, PBS NewsHour, NBC Nightly News, ABC World News Tonight, CBS Evening News, CNN’s Erin Burnett OutFront, Last Week Tonight with John Oliver, and The Daily Show. Dan can be heard regularly doing radio on the tech sector for Bloomberg, ABC News, NPR, BBC, and other radio programs. Dan is often cited globally by publications such as The Wall Street Journal, USA Today, Investors Business Daily, Chicago Tribune, NY Post, Los Angeles Times, Newsweek, The Telegraph, San Francisco Chronicle, Time Magazine, Le Monde, The Washington Post, The Guardian, The Boston Globe, Daily Mail, South China Morning Post, Barron’s, The Times of London, Financial Times, Le Figaro, The Sydney Morning Herald, and New York Times, among many others. Named by the New York Post in 2024 as the “Best Dressed Man on Wall Street” in a fashion profile article. He holds a B.S. in Finance from Penn State University and an MBA from the University of Maryland. Twitter handle: @DivesTech.
ANALYST EDGE
Daniel’s Edge: What sets Daniel apart is his deep relationships with management teams in both the public and private sector developed throughout his decades-long career. He is very entrenched in the VC community and has hundreds of customers/IT product managers/CIOs who he regularly speaks with to maintain his finger on the pulse of spending and secular themes in the field. He has become a valuable resource when it comes to understanding trends in consumer behavior and deciphering companies’ direction in tech and software development.
COMPANIES UNDER COVERAGE
  • Apple, Inc. (AAPL)
  • C3.ai (AI)
  • Check Point Software Technologies Ltd (CHKP)
  • CI&T Inc. (CINT)
  • Consensus Cloud Solutions Inc. (CCSI)
  • DocuSign (DOCU)
  • Electric Last Mile Solutions Inc (ELMS)
  • Faraday Future Intelligent Electric Inc. (FFIE)
  • Fortinet, Inc. (FTNT)
  • General Motors Company (GM)
  • Getaround, Inc. (GETR)
  • Huron Consulting Group Inc. (HURN)
  • Innodata Inc. (INOD)
  • International Business Machines (IBM)
  • Lithium Americas Corp (LAC)
  • Lyft, Inc. (LYFT)
  • Microsoft Corporation (MSFT)
  • Oklo Inc (OKLO)
  • OneStream Inc. (OS)
  • Palantir Technologies Inc. (PLTR)
  • Palo Alto Networks, Inc. (PANW)
  • Paymentus Holdings INC (PAY)
  • Pegasystems, Inc. (PEGA)
  • Planet Labs PBC (PL)
  • Qualys, Inc. (QLYS)
  • Rivian Automotive Inc (RIVN)
  • Salesforce.com (CRM)
  • Serve Robotics Inc. (SERV)
  • SolarWinds Corp (SWI)
  • SoundHound AI Inc (SOUN)
  • Telos Corp. (TLS)
  • Tenable Holdings, Inc. (TENB)
  • Tesla (TSLA)
  • The Metals Company Inc (TMC)
  • Uber Technologies, Inc. (UBER)
  • Varonis Systems, Inc. (VRNS)
  • VinFast Auto Ltd (VFS)
  • Voyager Technologies (VOYG)
  • Willdan Group (WLDN)
  • Zscaler Inc. (ZS)

Matthew Bryson

Managing Director, Equity Research

Matthew (“Matt”) Bryson is a veteran Equity Research Analyst covering the Enterprise Hardware sector at Wedbush. He has followed the technology space for nearly two decades, covering everything from hard drive subcomponent names (i.e., Komag and Read-Rite) to systems (i.e., Dell, EMC, and Super Micro) and software (i.e., Legato and Nutanix). He previously helped develop Avian Securities’ research platform and led technology research at ABR Investment Strategy, LLC. While at ABR, Matt was responsible for covering the entirety of the enterprise and consumer hardware universe. Because of the broad mandate and the continuously shifting landscape in technology, he regularly has necessarily shifted focus to keep abreast of developing trends, building a very broad understanding of the intersection of various segments within tech. Matt has consistently engaged with private companies early in the venture process, starting with companies like Lefthand and EqualLogic, with more recent contact with names including CNEX Labs, Vast Data, NGD Systems, and Liqid. He started his career in equity research as an analyst with Charles River Associates.

Matt holds a B.A. in economics and history from Williams College.

Scott Devitt

Managing Director, Equity Research

Scott Devitt is a seasoned equity research analyst specializing in the broader internet space, with an emphasis in the e-commerce and online travel sectors. His interest in the tech space was sparked during his time spent at DELL as a Financial Analyst, where he supported the factory and sales division. Working for an ecommerce company before ecommerce became mainstream allowed Scott to witness firsthand the core differentiators and disruptive commerce models that would shape the industry. In 2000, Scott joined Legg Mason as an associate and quickly assumed coverage within the space. His expertise in recognizing emerging companies and understanding the underlying trends within the market later led him to successful tenures at Stifel Financial Corp. and Morgan Stanley. Throughout his career, Scott’s core competency has been his ability to identify the themes that drive debates and ultimately impact stock performance.

Scott received his Bachelor of Business Administration in Finance from University of North Florida, and his Master of Business Administration in Finance from University of Georgia, Terry College of Business.

ANALYST EDGE

Scott’s deep industry knowledge and extensive experience enable him to identify companies early on in their development and recognize the key components that drive their success. He demonstrates exceptional proficiency in recognizing the pivotal themes that fuel discussions and ultimately impact stock performance, which allows him to equip investors with invaluable insights, enabling them to grasp the fundamental factors that contribute to a company’s long-term story.

COMPANIES UNDER COVERAGE
  • Airbnb Inc. (ABNB)
  • Alphabet Inc. (GOOGL)
  • Amazon.com, Inc. (AMZN)
  • Booking Holdings Inc. (BKNG)
  • CarMax (KMX)
  • Carvana Co. (CVNA)
  • DoorDash Inc. (DASH)
  • eBay (EBAY)
  • Etsy (ETSY)
  • Expedia Group Inc. (EXPE)
  • Klarna Group (KLAR)
  • LYFT Inc. (LYFT)
  • Maplebear Inc. (CART)
  • MercadoLibre Inc (MELI)
  • Meta Platforms Inc (META)
  • Pinterest Inc (PINS)
  • Sea Limited (SEA)
  • Shopify Inc (SHOP)
  • StubHub Holdings (STUB)
  • The Trade Desk, Inc. (TTD)
  • Tripadvisor, Inc. (TRIP)
  • Uber Technologies Inc. (UBER)
  • Wayfair (W)
  • Xometry, Inc. (XMTR)

Alicia Reese

Senior Vice President, Equity Research

Alicia Reese is SVP of Equity Research, covering Media & Entertainment and Consumer Entertainment Products. Over her 17 years with Wedbush Securities, she has covered a variety of sectors, with a primary focus on the movie and entertainment industries. She currently covers theatrical entertainment companies, such as AMC, Cinemark, IMAX, and National CineMedia; streaming-focused companies, such as Netflix, Roku, and Fubo; consumer products companies such as Logitech, Corsair, and Turtle Beach; and media companies related to video games, such as Nintendo, Electronic Arts, Take-Two, Ubisoft, AppLovin, Unity, Roblox, Double Down Interactive, Playtika, and CD Projekt. Alicia began her career in finance as a data and collateral analyst at Countrywide Securities. Alicia received her B.S. degree in Mathematics/Economics from UCLA.
ANALYST EDGE
With deep expertise in consumer entertainment and advertising, Alicia brings a sharp analytical lens to the way she approaches research. Her economics and math background gives her a particular view on the numbers; while she frequently uses survey work and expert events to get an edge on current and upcoming trends.
COMPANIES UNDER COVERAGE
  • AMC Entertainment Holdings Inc (AMC)
  • AppLovin Corp. (APP)
  • Beyond Inc. (BYON)
  • CD Projekt S.A (CDR.WA)
  • Cinemark Holdings, Inc. (CNK)
  • Corsair (CRSR)
  • Electronic Arts Inc. (EA)
  • Embracer Group AB (EMBRAC B)
  • FuboTV, Inc. (FUBO)
  • Gaming, Inc. (CRSR)
  • Getty Images Holdings, Inc. (GETY)
  • IMAX Corporation (IMAX)
  • Logitech (LOGI)
  • National CineMedia, Inc. (NCMI)
  • Netflix, Inc. (NFLX)
  • Nintendo Co Ltd (7974.JP)
  • Playtika Holding Corp. (PLTK)
  • Roblox Corp (RBLX)
  • Roku, Inc. (ROKU)
  • Take-Two Interactive Software (TTWO)
  • The Marcus Corporation (MCS)
  • Turtle Beach Corp. (TBCH)
  • Ubisoft Entertainment SA (UBI.FR)
  • Unity Software Inc. (U)

Antoine Legault, CFA, CPA

Vice President, Equity Research

Antoine Legault, CFA, CPA, is a Senior Associate on the Equity Research team at Wedbush Securities, where he focuses on the quantum computing sector. Prior to joining Wedbush, Antoine was an Equity Research Associate at ATB Capital Markets, covering SaaS and E-commerce. He also worked at KPMG LLP as a Senior Consultant in the firm’s Deal Advisory practice.

Antoine is a CFA charterholder and a CPA. He holds a Graduate Diploma in Professional Accounting and a Bachelor of Commerce from McGill University in Montreal, Canada.

ANALYST EDGE

Antoine brings a unique combination of experience in public accounting, deal advisory, and equity research. His regular travel to Silicon Valley has given him an in-depth view of hardware supply chains and key developments in technology and demand trends. This well-rounded perspective allows him to identify undervalued opportunities across the hardware landscape with insight and precision.

COMPANIES UNDER COVERAGE
  • Diebold Nixdorf Inc (DBD)
  • IONQ Inc. (IONQ)
  • NCR Atleos Corp (NATL)
  • Quantum Computing Inc (QUBT)

David Nierengarten, Ph.D.

Managing Director, Equity Research
David Nierengarten, Ph.D., has been a senior analyst covering small-mid cap biotech stocks with a heavy focus on oncology, rare disease and gene therapy. His prior experience in venture capital and operations at a private biotechnology company, helps him succeed in analyzing both science and business models. In addition, David has results in predicting Dendreon’s looming bankruptcy, and several M&A events involving NPS Pharmaceuticals and Anacor. David received his B.S. in Biochemistry from the University of Wisconsin-Madison, and Ph.D. in Molecular and Cell Biology from the University of California at Berkeley.
ANALYST EDGE
David’s Edge: His early state venture capital investing experience makes him well rounded, and can be found as a resource for M&A, and IPO trends for small/mid cap biotechs. With his primary focus being clinical trials in oncology, he understands the complexities of gene therapy, and can explain the risk/reward scenarios for developing-stage biotechnology companies. Combing both experiences provides him insights for corporate operations that have helped him generate value creation in this event-driven space.
COMPANIES UNDER COVERAGE
  • Abivax S.A. (ABVX)
  • AnaptysBio, Inc. (ANAB)
  • Apogee Therapeutics, Inc. (APGE)
  • arGEN-X N.V. (ARGX)
  • Artiva Biotherapeutics, Inc. (ARTV)
  • Beam Therapeutics (BEAM)
  • Bicara Therapeutics Inc. (BCAX)
  • bluebird bio (BLUE)
  • BridgeBio Oncology Therapeutics (BBOT)
  • Cogent Biosciences (COGT)
  • Disc Medicine, Inc. (IRON)
  • Fate Therapeutics (FATE)
  • Fennec Pharma (FENC)
  • Fusion Pharmaceuticals (FUSN)
  • Hansa Biopharma (HNSA)
  • Ikena Oncology, Inc. (IKNA)
  • Immunome, Inc. (IMNM)
  • Intellia Therapeutics (NTLA)
  • Iveric Bio Inc. (ISEE)
  • Kiniksa Pharmaceuticals (KNSA)
  • MyoKardia Inc. (MYOK)
  • NovoCure Ltd. (NVCR)
  • Nuvalent, Inc. (NUVL)
  • Nuvation Bio (NUVB)
  • Oric Pharmaceuticals (ORIC)
  • Oruka Therapeutics, Inc. (ORKA)
  • Perspective Therapeutics, Inc. (CATX)
  • Prime Medicine, Inc. (PRME)
  • Scholar Rock (SRRK)
  • Shattuck Labs, Inc. (STTK)
  • Spyre Therapeutics, Inc. (SYRE)
  • Sutro Biopharma (STRO)
  • Telix Pharmaceuticals Ltd (TLX)
  • TScan Therapeutics, Inc. (TCRX)
  • Xencor (XNCR)
  • Zenas BioPharma, Inc. (ZBIO)

Laura Chico, Ph.D.

Biotechnology

Laura brings more than a decade of experience in the biotechnology and drug discovery industry, as well as nine years in Equity Research. During her career, Laura has served as Vice President Equity Research at Raymond James, and as a biotech analyst in the Robert W. Baird Equity Research Healthcare group. Before entering equity research, Laura held scientific roles in both industry and academic settings with focus in central nervous system (“CNS”) diseases such as Alzheimer’s disease. Laura received her B.S. in Bacteriology from the University of Wisconsin-Madison, her M.S. in Computational Biology & Bioinformatics, and her Ph.D. in Molecular Pharmacology, from Northwestern University. She continues to serve as an adjunct assistant professor at Northwestern University’s Feinberg School of Medicine.
ANALYST EDGE
Laura’s Edge: Her combination of scientific, research, and academic communities experiences, gives Laura a deeper understanding and ability to translate complex data sets for investors.
COMPANIES UNDER COVERAGE
  • Aerovate Therapeutics, Inc. (AVTE)
  • Alto Neuroscience, Inc. (ANRO)
  • Apellis Pharmaceuticals, Inc. (APLS)
  • Aptinyx Inc (APTX)
  • Ardelyx (ARDX)
  • BioCryst Pharmaceuticals (BCRX)
  • Biogen, Inc. (BIIB)
  • Climb Bio (CLYM)
  • Denali Therapeutics (DNLI)
  • Dianthus Therapeutics, Inc. (DNTH)
  • Edgewise Therapeutics Inc (EWTX)
  • Gossamer Bio (GOSS)
  • Jade Biosciences, Inc. (JBIO)
  • Karuna Therapeutics Inc. (KRTX)
  • Larimar Therapeutics, Inc. (LRMR)
  • Maze Therapeutics, Inc. (MAZE)
  • Neurocrine Biosciences, Inc. (NBIX)
  • Ovid Therapeutics, Inc. (OVID)
  • PepGen Inc. (PEPG)
  • Pharvaris N. V. (PHVS)
  • Praxis Precision Medicines, Inc. (PRAX)
  • Sage Therapeutics, Inc. (SAGE)
  • Solid Biosciences Inc. (SLDB)
  • Stoke Therapeutics (STOK)
  • Travere Therapeutics (TVTX)
  • Ultragenyx Pharmaceutical Inc (RARE)
  • Viridian Therapeutics, Inc. (MGEN)
  • Xenon Pharmaceuticals (XENE)

Robert Driscoll, Ph.D.

Senior Vice President, Equity Research

Robert Driscoll, Ph.D., has over a decade in research and analytics in the life sciences sector – specifically in the area of oncology and more recently in the areas of infectious disease. He is a molecular biologist who received his Ph.D. from the University of Cambridge, and spent six additional years working in the lab at Stanford. He is particularly interested in the development and causes of cancer, as well as the expanding world of immuno-oncology. Since joining Wedbush in 2014, Robert has been covering a number of cutting-edge companies that include Arvinas (ARVN), Kura Oncology (KURA), Arcus Biosciences (RCUS), and IGM Biosciences (IGMS). Robert received his Bachelor’s degree in Biochemistry from the University of Leeds, and his Ph.D. in Cellular and Molecular Biology from the University of Cambridge. He also completed a postdoctoral fellowship at Stanford University.
ANALYST EDGE
Robert’s Edge: His biochemistry, cellular and molecular biology background allows for Robert to decipher the intricacies of the science behind biopharmaceuticals. It is this understanding that gives him insight into how biotech companies are working to extend the durability and breadth of patient responses to immuno-oncology treatments. He is also adept at connecting the dots between the novel scientific research to effective targeted therapies in development.
COMPANIES UNDER COVERAGE
  • Adicet Bio, Inc. (ACET)
  • Alpine Immune Sciences (ALPN)
  • Arcus Biosciences Inc. (RCUS)
  • Arvinas Inc (ARVN)
  • Avalo Therapeutics (AVLO)
  • Black Diamond Therapeutics, Inc. (BDTX)
  • CG Oncology, Inc. (CGON)
  • Compass Therapeutics (CMPX)
  • Corbus Pharmaceuticals Holdings, Inc. (CRBP)
  • Crescent Biopharma Inc. (CBIO)
  • Cullinan Oncology (CGEM)
  • CytomX Therapeutics (CTMX)
  • Day One Biopharmaceuticals Inc (DAWN)
  • Eikon Therapeutics, Inc. (EIKN)
  • Entasis Therapeutics (ETTX)
  • Foghorn Therapeutics (FHTX)
  • Geron Corp (GERN)
  • Ideaya Biosciences (IDYA)
  • Janux Therapeutics (JANX)
  • Kura Oncology (KURA)
  • Monte Rosa Therapeutics (GLUE)
  • Replimune Group Inc (REPL)
  • Revolution Medicines (RVMD)
  • Tango Therapeutics, Inc (TNGX)
  • Werewolf Therapeutics (HOWL)
  • Zentalis Pharmaceuticals, Inc. (ZNTL)

Yun Zhong, Ph.D.

Senior Vice President, Equity Research

Yun Zhong, PhD, is a senior research analyst specializing in biotechnology. Before joining Wedbush, he served as a vice president on the biotech team at Jefferies and held senior biotech analyst roles at Janney Montgomery Scott, Berenberg Capital Markets, and BTIG. Yun’s expertise spans orphan diseases, genetic medicine, hematology, neuromuscular diseases, and metabolic disorders. His career began at Cowen and Company, followed by a position at SunTrust Robinson Humphrey. Yun earned his PhD in neuroscience and molecular biology from Rockefeller University and holds both an MS and a BS in biophysical engineering from Osaka University in Japan. His strong technical background and genuine interest in the scientific aspects of biotechnology allow him to understand therapeutic mechanisms at a molecular level, providing a more objective and differentiated perspective. Yun is particularly focused on gene therapy and genetic medicine, areas where he remains optimistic about its potential to offer significant advancements in patient care.
ANALYST EDGE
Yun’s Edge: His technical expertise and deep understanding of biotech mechanisms set him apart. Yun’s ability to objectively analyze data and his comprehensive knowledge of gene therapy and genetic medicine provide a competitive advantage, making him a valuable asset in the biotechnology sector.
COMPANIES UNDER COVERAGE
  • Ascendis Pharma (ASND)
  • BioMarin Pharmaceuticals (BMRN)
  • CAMP4 Therapeutics Corporation (CAMP)
  • Keros Therapeutics, Inc. (KROS)
  • MannKind Corporation (MNKD)
  • MoonLake Immunotherapeutics (MLTX)
  • Opus Genetics, Inc. (IRD)
  • Passage Bio (PASG)
  • Protagonist Therapeutics (PTGX)
  • Rezolute, Inc. (RZLT)
  • Rocket Pharmaceuticals (RCKT)
  • Sagimet Biosciences Inc. (SGMT)
  • Sarepta Therapeutics (SRPT)
  • Voyager Therapeutics (VYGR)
  • Wave Life Sciences Ltd. (WVE)

Martin Fan, Ph.D.

Vice President, Equity Research

Martin Fan is a Vice President, Equity Research with over a decade of experience in drug discovery and analytics within the biotechnology sector. Before joining equity research, he held scientific and business development roles across both industry and academic institutions, with therapeutic focuses in oncology, vaccines and infectious diseases, and autoimmunity. His experience spans the bench to the boardroom—having worked as a bench scientist and later in business development—giving him a unique perspective on the biotech landscape. Prior to transitioning into research, Martin also worked in business consulting, where he specialized in translating complex clinical and scientific data for both specialist and generalist investors. Martin earned his B.S. in Biochemistry from Washington University in St. Louis and holds a Ph.D. in Immunology from Harvard University.
ANALYST EDGE
Martin brings deep sector expertise in autoimmunity, allergies, and inflammation. His combined scientific and commercial background enables him to identify underappreciated risks and opportunities in early- and late-stage biotech companies. Having worked directly in biotech and consulted on strategy, Martin has a nuanced understanding of how science translates into pipeline value and a unique ability to communicate complex scientific insights in a way that resonates with diverse investor audiences.
COMPANIES UNDER COVERAGE
  • Aclaris Therapeutics, Inc. (ACRS)
  • AnaptysBio, Inc. (ANAB)
  • Artiva Biotherapeutics, Inc. (ARTV)
  • Cartesian Therapeutics, Inc. (RNAC)
  • Fate Therapeutics, Inc. (FATE)
  • ImageneBio Inc. (IMA)
  • Oruka Therapeutics, Inc. (ORKA)
  • Sana Biotechnology (SANA)
  • Vor Biopharma (VOR)
  • Zenas BioPharma, Inc. (ZBIO)
  • Zura Bio Ltd (ZURA)

Henry Coffey

Equity Research Analyst

Henry has been a Wall Street analyst for over 30 years. His primary focus in recent years has been on housing finance and his work touches on all aspects of the “dwelling” equation, including mortgage REITs, specialty property REITs, and mortgage originators.

In the mid-1990’s, after eight years covering SE banks, he added BDCs to his research focus and his coverage in this sector includes management teams from them. Because of his success, The Wall Street Journal cited him in their Best on the Street Survey. Henry received his MBA from the A.B. Freeman School of Business at Tulane University, and is a CFA Charterholder.

ANALYST EDGE

Henry’s Edge: Involves the use of historical perspectives along with forward-thinking approach, to advise and analyze companies such as Ellie Mae (ELLI), Lending Club (LC), Navient Corp. (NAVI), and more. He excels through regulatory matters, especially ones related to topics concerning the CFPB, and his strengths include issues regarding mortgage, consumer, and auto lending.

COMPANIES UNDER COVERAGE
  • Federal Home Loan Mortgage Corporation (FMCC)
  • Federal National Mortgage Association (FNMA)
  • Rithm Capital Corp. (RITM)
  • Rithm Property Trust (RPT)

Mike Piccolo

Senior Vice President, Equity Research

Mike Piccolo is a seasoned equity research analyst specializing in special situations and event-driven equities across all sectors. His career began at Gabelli & Company as a generalist institutional equities sales-trader, where he gained broad exposure to equities across multiple sectors and market conditions. He later joined Imperial Capital as an equity research analyst with a focus on event-driven equities, specifically in the busted SPAC market and busted convertible bonds, before serving as SVP Sales & Trading, Event-Driven Equities, at Wedbush. Throughout his career spanning over 10 years in equity research and sales, Mike’s core competency has been his ability to identify the catalysts that drive debates and ultimately impact stock performance.

Mike received his Bachelor of Business Administration from the Gabelli School of Business at Fordham University, graduating cum laude with a Triple Concentration in Finance, Marketing & Alternative Investments.

ANALYST EDGE

Mike’s experience in special situations and event-driven equities allows him to identify opportunities early and understand the catalysts that drive stock performance. He classifies his equity research coverage into two groups: hard catalyst events (announced M&A, distressed situations, convertible arbitrage, spin-offs/split-offs, large asset sales, recapitalizations, and activist targets) and soft catalyst events (takeout speculation, management changes, thematic trends, turnaround stories, and deep value ideas). This framework helps investors identify the key factors that impact a security’s performance.

COMPANIES UNDER COVERAGE
  • Burford Capital (BUR)
  • Cross Country Healthcare, Inc. (CCRN)
  • TaskUs, Inc. (TASK)
  • STAAR Surgical Co. (STAA)

Kirsten Fraunces

Executive Vice President,
Chief Administrative Officer

Kirsten Fraunces is Executive Vice President and Chief Administrative Officer for Wedbush Securities. She is a member of the President’s Executive Committee and is responsible for overseeing the CAO Division, including Equity Research, Brand, Strategy, and Talent.

Kirsten joined Wedbush in 2002 as a VP in Equity Sales, and during her 20-year tenure, she has played a pivotal role, as Head of Equities, in ensuring that Wedbush remains a leader in the financial industry, providing the highest quality research to investors.

Prior to joining Wedbush, Kirsten worked at J.P Morgan Investment Management in Equity Research and was a Vice President of Equity Research at Merrill Lynch.

Kirsten earned her BA in Math and Music from Smith College and her MBA from the University of Southern California, and has over 20+ years of investment industry experience.

Seth Basham, CFA®

Managing Director, Director of Research

Seth Basham is Managing Director and Director of Research at Wedbush Securities. With over two decades of experience in equity research and capital markets, he brings both a sharp analytical lens and strategic oversight to the firm’s research platform. Before assuming his current leadership role, Seth served as a Wedbush Senior Analyst covering the hardlines retail sector, where he was widely recognized for his deep industry insight. Seth was also the Head of Consumer Sector research. Prior to Wedbush, he held equity research analyst roles at Credit Suisse and UBS and spent five years on the buy side investing in retail and consumer companies. Earlier in his career, Seth worked in strategy consulting, advising clients on business growth and market positioning. 

Seth holds an MBA in Finance from Columbia Business School and a BA, Magna Cum Laude, with high honors in Economics from Colgate University. Seth is also a CFA charterholder.