Share
121 Posts.
lightbulb Created with Sketch. 21
clock Created with Sketch.
28/10/20
15:51
Share
63m shares traded in one day - if it's crescent again they must've hit their 10% yearly cap.
Originally posted by CaptainBarnacles:
↑
I suspect crescent would be considering a TO with the EV at 3 x EBITDA. Earnings will recover under Biden in the US, and they'll get 8 to 10x EBITDA for it in a couple of years. For whatever reason this is really out of favour ATM. I hope they don't TO, as I do think the segment is ready to have some great years. The markets are fearful the republicans could maintain hold of the senate and stymie stimulus perhaps, and then all these plans go nowhere. But this seems to be well factored in.
Expand
That's a lot to buy in a single day, an institutional holder is exiting without regard to price and Crescent are providing liquidity.