Post by
MatthewZy on Aug 18, 2016 10:46am
Big investors want this cheap
No opinion on where the stock goes guys but it appears there are a lot of big money investors that want PSG's assets and they don't want to pay for the shares.
This situation reminds me of when Carl Icahn tried to steal Las Vegas Sands (LVS).
If I owned PSG I would want to watch the debt covenants - see pages 25-26 in the MDA.
Consolidated Fixed Charge Coverage Ratio (min ratio 1.0) and Leverage Ratio.
CXR.to VRX.to and PSG - debt fuelled expansion gone bad.
Comment by
jaja18 on Aug 18, 2016 4:47pm
I agree with you...through all this bloodshed no reports yet about institutions selling. Sports Direct International PLC reported 5.5 pct stake in PSG as of 8/15/2016. Like most longs on this BB, it was all good just a week ago. Now we have to hope that this get bought out or creditors give us an extension for a SP appreciation. Before any of that happens, look like a day trading stock.