RE:RE:KRENSAVAGE COMING UP ON BNN ... NOW My opinion, but I would have enjoyed seeing the video at the beginning of the year.
https://www.bnn.ca/video/why-one-firm-is-staying-short-on-concordia~967826
My biggest pet peeve: his comments are based on independent analysis on prescription data and past trasnactions. Well why isn't this data available to the public? I hear so many reasearch firms publishing independent reports for hedge funds and law firms such as Pacific Square Research and Vertias Reasearch who are all forensic accountants and are calling for bankruptcy and the subscription fees to get this research is in excess of $50,000 ??? Where is the little retail investor in all of this? Screwed that is where!
I did not realize the adjusted metrics ignores interest and other expenses. I liked his comment that he made "You can't pay the bills with EBITDA, never mind adjusted EBITDA" I also agree that a buyer has had six months to look at it and would have stepped up by now so I agree that they are looking at the same prescription data as the short sellers. If assets are worth 4 times gross profit that turns out to $2.4 billion and that doesn't come close to the debt.
The company sent out the wrong message deferring the earn out, and now putting on more debt. It is just buying themselves time. But if the longs are correct, then it can turn things around - but their latest press release has stated a profit warning so I am not as confident to dive in here Lumber as you say and buy at these levels. The market is telling you they have some serious problems by you saying that they are not even close I think you are wrong but understand how you must feel if you have been holding it since November.