WTC slipped -4.4% on Monday following news that the company was investigating two more confidential complaints by an employee and a supplier against the founder, Richard White. This feels like Chapter 2 for Richard White after allegations into his personal life sent the stock plunging ~30% in October. This is a great company that Richard White should be incredibly proud of. Still, we are reticent to buy a stock trading on such a significant valuation with uncertainty remaining around the company’s most influential person.
- We like the risk/reward towards WTC back around $100, where it was trading in late 2024, around 20% lower.
MM is neutral WTC around $124
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