RE:This strategy has never been successful Valeant. Which is related as "healthcare" ironically.
VRX was a "merger by acquisition" darling. The big difference is they could support it by jacking up prices by 200-500% on drug acquisition.
ACB has a commodity product. Users refer to stains and cost as the two buying decision point. Every single investor here should get familiar with
leafly.com - the world's #1 strain rating site.
Valeant went from less than $10 to over $300 in 7 years but the M&A game always ends and they crashed to $10 in two years. Investors are playing dead cat bounce on that one.
It's actually a $9B worthless company. Trades at $25, book value of $16 and tangible book value of minus $71. It's a great short sell if you catch it at the right time.