RE:RE:RE:RE:RE:RE:RE:RE:RE:Covid 19 and Sienna PreparednessFundamentally, Sienna is doing well. Better than both Chartwell and Extendicare.
So, why the drop? Extendicare is experiencing a rise in Covid 19 cases in Ottawa. Not so sure about anywhere else. Nothing to note regarding Chartwell or Sienna, but hospitals are reporting increases in cases, and that may be spooking the market for Health service oriented businesses.
There is also a class action case that was not heard last January/February but that was remanded for Jan/Feb of 2024. I think this will be a non-issue, but may weigh on share price until it eventually gets dismissed as Covid 19 was a global pandemic that no government or country was prepared for, and you cannot put blame on industries that were only following Government and WHO guidelines. Frivolous in my opinion.
Chartwell has so far bucked the trend as their share price has held well. Maybe because they are selling some of their businesses and shoring up cash, reducing debt, I don't know.
All I know is, Sienna is doing extremely well fundamentally, but this hopefully, temporary resurrgence of Covid 19 cases will be just that.....temporary. Nobody wants another lockdown or face mask requirement, but either way, Sienna and others survived the last pandemic where no one was prepared, and they should do the same, now that they know how to prepare for one.