Shares of YETI Holdings (YETI) sank 18% after missing earnings estimates and cutting guidance. One week after the earnings announcement, in the company’s latest quarterly filing, YETI inserted new language hinting at multiple potential catalysts for the stock, including a potential stake by an activist investor.

The new language indicated YETI may:

“...be the target of stockholder activism, an unsolicited takeover proposal or a proxy contest or short sellers, which could negatively impact our business.”

The warning did not appear in the company’s previous quarterly filing nor was any mention made of activism, unsolicited takeovers, or short sellers in the company’s most recent annual report.

Later in the filing— when telling investors that besides the aforementioned warning no new risks or uncertainties have been identified since the filing of its 10-K— YETI includes new language that seems to narrow the list of catalysts:

“Other than the addition of a risk factor related to risks and uncertainties associated with stockholder activism…”