A series of unfortunate eventsI made the mistake of getting caught up in the confidence surrounding "remain" and didnt hedge my CXR position against a brexit - a decision I am now clearly regretting. A remain vote was the positive catalyst this stock needed as a stronger pound and increased buyout possibility would have had CXR surging. The leave vote is just another unfortunate event for which CXR and its shareholders have no control.
The real problem with the leave vote is the uncertanity. As previous posters have mentioned, if the pound levels off around the 1.35-1.40 mark CXR will be fine from a reporting perspective, and debt in GBP and AMCO expenses in GBP act as a natural hedge against a weaker GBP. However, the uncertainty surrounding the British economy will likely reduce a buyout possibility, and significantly expand the time frame for a sp recovery.
I have been a defender of CXR's lack of PR in the past as I think MT takes a no-bullshit approach and doesnt' believe in releasing information unless it is significant and concrete. Plus he has likely been in buyout negotioations that limit what be can say anyways. However, with the uncertainty surrounding the macro events unfolding in Britain, the sp cannot handle the uncertainty of the strategic review. ASAP CXR needs to conclude this strategic review and make a statement that adresses the outcome and (if no buyout) provides an update on Brexit impact and how CXR will react going forward.