Ann: URW announces a EUR 9.0 Bn RESET plan, page-125

I had a look at URW after the fall from $10 to $2.60ish caught my eye. Like many I entered the market in March with the simple plan of buying covid distressed shares that will rebound post covid. Nobody believes in that anymore- surely.

What concerns me is that URW fell from about $15 in 2018 to about $11 precovid. The fall since Feb/March is simply a continuation of a fall already 2 years running. Also, the SP was at a discount to book equity even before covid- an indication that the market was already wary.
The REIT model is a trap when things are not going well- the lack of profits retained to get through the downturns. And the global headwinds against shopping centres will exist even beyond covid.

A falling knife.

Not meant as a down ramp.

GLTAH DYOR