SGR fell 6.7% on Wednesday, adding to its woes of recent years. Incredibly, SGR now only has a market cap of $600mn as it increasingly appears like a “penny dreadful.” CEO Steve McCann recently summed up the stock’s dilemma: “We are at a critical point in our liquidity, with the business currently experiencing material negative cashflow on a monthly basis.” While revenue continues to decline significantly, we find SGR non-investable.
- We still see no reason to consider investing in SGR.
MM is neutral at best toward SGR
Add To Hit List
