Bankruptcy/Chapter 11 / Energy
Valence Technology Plan Confirmed
The U.S. Bankruptcy Court issued an order confirming Valence Technology’s First Amended Plan of Reorganization, and the Company concurrently closed on a $20 million loan provided by its new owner, Berg & Berg Enterprises. Valence Technology’s common stock (which traded over the counter with the symbol VLNCQ) was cancelled effective November 13, 2013. “As Valence emerges from Chapter 11, we are a stronger, better capitalized and more competitive company with a solid foundation for future growth,” says chief executive officer and president, T. Joseph Fisher. This phosphate-based lithium-ion energy systems provider filed for Chapter 11 protection in July 2012, listing $32 million in pre-petition assets.
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Turnaround Investing Blog
Boston Beer Company is the nation's largest craft beer company, with 2017 revenues of over $900 million. Since its days as a start-up in 1984, it has led the nation's growing taste for craft beers; and shareholders have enjoyed tasty returns along the way. So why is The Turnaround Letter--which focuses on out-of-favor companies undergoing major positive changes--even thinking about this ostensible "growth" company?
Harnessing Activists to Help Find Turnaround Stocks
Activist investors often produce attractive returns for their clients; and you can still use their influence to help your position as a turnaround investor in two ways: Buy a position in a stock with the expectation that an activist will soon follow or buy after an activist takes a stake.
While one of the many dozens of activist funds might find their way to selecting your particular stock, this approach is likely to be frustrating and unrewarding. A better approach is to buy after the activist makes their move. Once an activist takes a stake in a company, how do you evaluate whether it is worthwhile to follow on? Admittedly, this is a bit of an art... Learn how you can harness the power of activist investors to find market-beating turnaround stocks.
Turnaround Letter Stock Pick Named Top Performer of 2017
What Last Year's Top Stock Pickers Are Buying in 2018
This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.
George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."
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