Thursday, November 19, 2015
SunEdison's new shareholders
There will be plenty of day-traders.
But even then there is likely to be one or two very large new shareholders. I have no idea who they are.
Whatever: I can't imagine them leaving Ahmad Chatila (the CEO) in place.
He has refused to resign, doesn't speak to reputable credit analysts and is responsible for the VSLR purchase.
The only remaining question: how bloody is the fight over his removal?
Mr Chatila should resign quickly and leave it to the new shareholders (if they wish to identify themselves) to pick his successor.
Ultimately he won't have any choice - but going without a fight will minimise the damage.
Whether the new shareholders are new bag holders is yet to be seen. I don't think they will be but the market disagrees with me.
The content contained in this blog represents the opinions of Mr. Hempton. You should assume Mr. Hempton and his affiliates have positions in the securities discussed in this blog, and such beneficial ownership can create a conflict of interest regarding the objectivity of this blog. Statements in the blog are not guarantees of future performance and are subject to certain risks, uncertainties and other factors. Certain information in this blog concerning economic trends and performance is based on or derived from information provided by third-party sources. Mr. Hempton does not guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. Such information may change after it is posted and Mr. Hempton is not obligated to, and may not, update it. The commentary in this blog in no way constitutes a solicitation of business, an offer of a security or a solicitation to purchase a security, or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.