This company single handedly dragged down my returns in 2015.
The share price in the past year looks like this:
Fortunately, the selling of some options served to buffer the drop for me. Still, it hurts.
At this stage, Valeant is as contrarian as it gets. Once they get past the 10-k filing, and the previously released results are validated, Valeant would be valued at a very much higher price than what it is now.
The latest news today is has sent the share price rocketing upwards. Valeant’s special committee has concluded their investigation into Philodor and found that there’s no need for any further restatements.
I’d be expecting Valeant to file their 10-K before 29th April as they have guided for, and that should send the share price shooting upwards further.
After Bill Ackman got on the board of Valeant, suddenly huge progress is made. Within a couple of weeks, the board composition has changed, the CEO is leaving and now the investigations are concluded.
This guy sure works fast.