Taking a gamble on Valeant
Valeant Pharmaceuticals was high on the pillar two years ago trading at least $200 and above. Today this sit at $12.93 a share after closing. This is no coincidence. The past two years have been lowest for VRX since back in early 2009. Many investors relate the bearish stock to have been pulled from poor management decisions and combination of debt and balance sheet. Their growth was outstanding and suddenly declined. They have been struggling to even cross the $30 mark where they once stood high and mighty. The market has been harsh on VRX and so has the investors. Just ask billionaire Bill Ackman who in 2015 took out a huge investment on Valeant back when they were hovering around $177. It was reported that Ackman eventually sold his final shares when VRX dipped down to $11 a share. That is a 93.7 percent decrease on his original purchase and a huge hit on his portfolio. Today Valeant looks extremely different. They have recently unloaded massive debt that they had on the books and and replaced the CEO by criminal probe that was conducted in 2015. The market has really undervalued VRX and most investors do believe this. So yes I am taking a gamble on Valeant Pharmaceuticals. This is a great time to buy VRX in my opinion, but it is a gamble nonetheless. I am hoping for steady growth back up the top where VRX should be sitting.