RE:RE:Another Assessment Conspiracy theory: These guys took a short position, it is underwater, they know earnings is coming next week and will crush them so released a rather weak short report to try and mitigate loss before getting blown out entirely. It is unfortunate that the market gave them 11% yesterday on panic. It took all of 45 seconds to look at market cap for a publicaly traded company to see FFH was correct in the asset value and MuddyWaters was wrong by about $550MM in their false claim. Assuming similar lack of basis throughout the rest of the report.
Muddy waters talk about FFH investments but looking at Muddy Waters they have really only made a name on one short and have had a few successful take downs where they profitted but in many cases the large shareholders saw a value opportunity and took the companies private on the revaluation which suggests Muddy waters, although they made some $, doesn't have a particualarily good track record. They can get away with this on smaller targets but I think they probably bit of more than they can chew on a $30B company like FFH.
Hoping FFH actually sues these guys, but in the meanwhile BTD and punish these halfwits. I added!
#BTD, #SillyGames