Activist investor Dan Loeb pushes Cano Health to sell

Third Point, the hedge fund led by Dan Loeb, disclosed a 6.4% stake in Cano Health (NYSE: CANO) and is pushing for a sale process. Cano, a Miami-based primary care company focused on seniors, went public last year via a SPAC led by Starwood Capital's Barry Sternlicht.

Why it matters: This is the first major activist targeting of a company that went public in the recent SPAC boom. It's also something of an attack from inside the house, as Third Point was a small participant in the SPAC merger's $800 million PIPE.