When I say ‘death spiraling’, I really mean it. The deleterious price action has take on a life of its own. The news is the stock going lower. That’s when you know you’re in a death spiral. Like previous death spirals before, and many that will sure follow it, Valeant could succumb to the pressures of the market by losing the ability to refinance its enormous debt.
Then it’s light out.
When the stock was $250, the debt wasn’t all that important. However, with the stock at $25 and their debt/eq ratio greater than 3x, that $30 billion looms large.
Don’t believe me? Read Bill Ackman’s private email to Michael Pearson, former CEO at Valeant.
Bill,
As things stand, you are fucked.
Sincerely,
the dude
HONUUUUUUUUUUU!!!
Rooting for VRX to close the day down 25% just to see a new Bill Ackman update on his life.
I want to see Theranos exposed as a complete and total fraud before this is done. I want what’s her name to be placed in a supermax prison.
Like they done Martha!
Is this an actual email, or is The Fly being a brilliant writer? Again.
800+ pages of Valeant emails available for search, courtesy of the otherwise do-nothing Senate . . . Bill must be snorting Ambien to sleep at night. Not that I feel bad for him at all. Sucks to suck.
Gotta say, that e-mail is on-point.