Is CRX going bankrupt?Is CRX going bankrupt?
The truth is no one knows. Did Ford, JC Penny, Lululemon, Citibank, Best Buy, and Dell go bankrupt, - many people said they would?
CXR management made significant mistakes and the fact that they were paid millions to do so is sickening, but even though CXR paid way too much for takeovers and took on too much debt they do have great products and excellent sales / EBITDA. I personally would not be looking at this company if it was trading at $100 a share / $5b market cap but today it does offer an opportunity for a takeover or new management to come in and reduce debt and exploit all the company has to offer. Any news that would have the shorts covering has the potential to create a doubling of the market cap / share price.
Always good to consider buying calls to limit risk if you don't what to buy the equity.
glta