"trading at 1/2 annual EBITDA"!!!!!
Lumberfeverlong, THERE!!!!!!! That explains why you are still bullish on CXR!! Thanks for the long response. Worth the read.
I've been reading this bullboard actively recently again, And now I'm wondering exactly how much to bet against this company. Should have done it in late August instead of trying to be smart with the shorts here with nonsense to shake t
Concordia has managed to turn an staunch anti-shorter, pro "investment" person like myself in to someone considering shorting CXR BIG TIME.
And the Concordia experience is leading me to be on the prowl for other fat "adjusted EBITDA" nonsense stocks to short! Anyone who knows my trading style is blown away because I've always had fun to vilify short sellers calling them "anti investment".
And, I was a seasoned attacker of shorts. That's the reason I was "playing" this short attack thinking they would back off until I stepped back from the "clown show" here and looked at the facts, The light came on and I said "WOW! There is a reason for the short attack!" And it's not "short and distort". The distort comes from the inside!
Key turning points for me was:
1. miserable failed guidance
2. write offs of newly acquired drugs were the shocker for me)
3. Prearranged and poorly disclosed pre-arrange insiders selling via margin. Officers should be forced to disclose all selling terms of these publically traded shares.
4. Ousted CFO.
And many others.
Your single "life safety ring" built around "adjusted EBITDA" won't help you LumberFever. I hate to tell you.
Hope the lessons from these levels aren't too painful for you. You might have been one of the $65 USD Amco offering? That would hurt.
Do yourself a favour and do more research on "adjusted EBITDA" .
It makes no sense to offer senior first priority debt via closed offering Notes to raise cash if the promised cash flow was there.
As for my associations, every single person I know is "non-market". The professional short sellers here are all "market" people even if they might only have private funds these days.
I personally don't like the main guy's "bash Canada" position but he's 100% right about the fact Canada as no Regulatory system and the provincial system is a complete joke.. It's bad, really bad.
Thanks again Lumber. I can totally associate with your mindspace and position. I've been there, very often.
But please, don't drink the "adjusted EBITDA" Kool-Aid!