Management failings aside, the asset portfolio still ok. Dargues is a blight on the books but has been more than priced in. The acquisition itself was $149M. Our market cap was $600M+ 6months ago. Our market cap now is ~$140M.
That acquisition and the loss in confidence in management has cost shareholders $400M+ in market cap.
Meanwhile the EBITDA numbers are still sound for the company. As long as management stop steering us into icebergs then the company itself is financially sound with the assets it has operating in the short term, with upside growth in the assets it can bring online in the medium to long term.
But I'd like management to be shown the door as I don't believe in second chances in this game.
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