What happened here is a madness. Last summer this stock was traded above 100. What's going to happen next? New lows? http://ir.valeant.com/news-releases/2016/03-21-2016-125936508
Actually, it was 263.81 last August. And if you believe the balance sheet it says there are $4 dollars per share available. Not bad for a $28 dollar stock. But inaccurate financial reporting is responsible for driving the stock down to where it is today, so who knows. 88 percent is held by institutions, which is quite a lot. It makes me wonder what the average is for the S & P 500.
i like [looking at] distressed properties/stocks possibly a speculation, with options? i was looking at [inexpensive] 2018 Calls today marc
This reminds me of Michael Burry shorting AAA rated housing bonds, people thought he was crazy: Ackman knows conviction is needed.