Direxion Daily Small Cap Bull 3X Shares V.TNA

Primary Symbol: TNA

The Fund seeks daily investment results before fees and expenses of 300% of the inverse or opposite of the daily performance of the Index. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day. The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000 Index, based on a combination of their market capitalization and current index membership. The fund is non-diversified.

ARCA:TNA - Post by User

Direxion Daily Small Cap Bull 3X Shares > Not a done deal.

<< Previous

Bullboard Posts

Next >>

Comment by Fansseon Nov 03, 2022 10:20am

103 Views

Post# 35069498

RE:RE:RE:RE:Not a done deal.

When you look at the notes from the Fairness opinion from Evans and Evans in the appendix of the arrangement:

'As can be seen from the following table, casinos tend to sell at a multiple of EV to trailing 12-month EBITDA in the range of 12x'.

'The proposed transaction implies a multiple of enterprise value to trailing 12 month EBITDA of 2.44x.'

'.. it does appear the proposed transaction is at the low end of the range of industry transactions.'

'The operating history and financial position of Evergreen does suggest a higher EBITDA multiple relative to it's peers is warranted.'

<< Previous

Bullboard Posts

Next >>

Infield Minerals to acquire Kings Canyon Gold Property