to regular investors who plans to hold or buy this stockplease don't... i sold my position, inccured the biggest loss in my investment history... here's why you shouldnt:
-management lied about the business; said super good results in Q1, says everything is fine a week ago, and then bam, q2 screws everyone out; just listen to the latest conference call... the ceo voice has no confidence or enthusiam whatsoever...
-huge impairement charges for assets they bought, just to give you an idea, they bought covis for $1.2B, impairement charges was over $500M, which is almost half of that, overpaid by 100% premium???! wtf? thats only one business they bought...imagine what would happen to others? for paldequil.. they ceo knew about that competition gonna come on May... wtf did he state that during the q1 call which was held in May? i am so pissed just thinking about it
-net debt to ebitda was consider very high but they planned to have it around 5.5x based on q1 guidance...now its 6.4x wth after 1 quarter.... imagine for the next 2 quarters as they get more impairement? liquidity and covenant issues will come for sure
-for the buy out... the main reason why i held it since the brexit fascal; but now that i looked at it... its not going to happen...: lets say you are the private equity, you want the best deal possible.. this stock dropped 40% in a single day...basically any offers in discussion before that drop is overpriced now and wont go through... if i were the PE and wants this company... i would bail out on the buy out offer, see it drop furthermore, and buy the stake on the open market...now: for the upcoming election, who would want to own this anyway...
-shorters will keep this down because they know more than us..looks like a sure win for them now; i used to very despise them everyday because they bash this stock while i am holding it... I would check this board multiple time everyday and cohodes twitter everyday in HOPE that they are wrong...in hope that for a BUY OUT to show them that I am right so i failed to look at their comments/hints and think for myself like the one about donnatal and nilandron deteriating sales (yes, some of them are just regular stupid bashing in which we can easily filter out)
i know you might think i am a shorter now and what the hell i am writing this on a saturday morning but i am just a regular guy who works 9-5 who lose my precious savings on this stock and don't want use guys to do the same... if this post save you guys a few grands here and there...i think it will worth my time writing this
in the end of the day, we, regular guy, just want to make money to have a better future...just hate to lose money on stupid company like this, it hurts bad