Actionable news
0
All posts from Actionable news
Actionable news in SCHW: THE CHARLES SCHWAB CORPORATION,

​Sequoia Dumping Valeant Pharmaceuticals’ Stock Now is Absurd

Why solidify the loss?

Sequoia, previously the second-largest shareholder, sold its entire stake in Valeant some time last month in June. The timing of the sale makes no sense. At worst, Valeant is “dead money” for months to come. Downside of 10 percent or more will be immaterial for Sequoia.

Sequoia has a high price paid, but Valeant’s turnaround in the business would narrow that loss. By selling...


More