Level of Toxicity is AmazingShorting at this level is just idiotic, even if you do think Concordia is going under the fundamentals paint a very different picture and there are much better shorts than Concordia at this point.
[U.S. numbers used for ease of reference]
Concordia:
P/E ratio = < 1.5
EV/EBITDA = < 7.5
Deleveraging/Year = $3.9/share = 53% above current PPS.
Valeant:
P/E ratio = ~4.2
EV/EBITDA = 8
Concordia @ Valeant ratios
P/E Ratio @ 4.2 = $Approx $20/share
EV/EBITDA Ratio @ 8 = $13-$16/share
Buyout Rumours Comparable.
$30/share = $1.53B market cap, assuming $625B EBITDA = 7.65X EBITDA multplier [pre-takeover share price trading]
7.65*$525B = $14.9/share.
I doubt I'll break even at my avg. CAD $20/share [$15/share USD], but I'm holding until the strategic review is completed. Even without an outcome from the strategic review I think Concordia is undervalued by at least 50% purely based on comparing Concordia to Valeant which is in a substantially worse position IMO. So perhaps I'll at least make some of my losses up.
Either way...my only conclusion is that those claiming to be short are actually longs who lost money on Concordia and now just spend time bashing it to make themselves feel better. Or maybe I won't.
Anyways this is my last post here because this board is a little bit of a joke, GL guys.