Last Price$64.88NASDAQ Previous Close - Last Trade as of 4:00PM ET 1/17/20
NASDAQ 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$64.88 (3)
Ask (Size)$65.33 (3)
Day Low / HighN/A - N/A
Volume89.6 K

Short-Seller Kerrisdale Capital Says Tucows Worth Less Than Half Current Value - Stock Rebounds from Early Losses to Last Trade Up More Than 2%

2:48PM ET 6/26/2019 MT Newswires
Short-seller Kerrisdale Capital said on Wednesday Tucows (TCX) shares should be worth less than half its current value as it expects the company to miss consensus 2019 EBITDA.

Kerrisdale said the company has two declining internet businesses and a nascent fiber business with high capex requirements and unrealistic profit expectations, adding that these businesses are not worth nearly the $730 million they're being valued at by the market.

"The market is completely misvaluing this mix of low quality businesses," said chief investment officer Sahm Adrangi in a report. "Tucows' ill-fated adventure into fiber will end badly, and the market is ascribing far too much value to this highly speculative division that has destroyed so much capital in the past for far larger peers."

Price: 59.73, Change: +1.38, Percent Change: +2.37