Also those comparing GSC to SGH are missing the opportunity here.
SGH was not trading anywhere near cash backing and were in circa 900M debt. The business was barely turning a profit (10-20M ebit if I recall correctly).
Not saying that this will be a turn around story, just saying that the market overreacted today.
The elastic band always snaps back the harder it’s pulled to one direction.
Also those comparing GSC to SGH are missing the opportunity...
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