Bleecker Street out with a report on the short case for Viggle Inc (NASDAQ:VGGL)
Why Viggle Inc (NASDAQ:VGGL) is a short, a CEO with a history of shareholder destruction, the stock being promoted by “Small Cap Street,” and numerous other issues.
Viggle: What Do Employees Say?
- “Smart and vibrant team, shamefully wasted”
- “The product no long works well, and is an outright embarrassment (see the reviews) the user base is plummeting.”
- “Misery and frustration is rampant among staff”
- “I’m not optimistic about the outlook for this company”
- “Sinking Ship”
- Pros: You work in a great neighborhood.
- Cons: You work for Viggle, the worst company of all time.
- Advice to Senior Management: Respect human beings.
- “Development team is poorly managed and developers are not respected or trusted by their own management (treated more as resources than as people.”
- “Management creates unrealistic schedules and timelines and promotes them as accurate throughout the company, then blames developers when dates aren’t met.”
At this year's annual Robin Hood conference, which was held virtually, the founder of the world's largest hedge fund, Ray Dalio, talked about asset bubbles and how investors could detect as well as deal with bubbles in the marketplace. Q1 2021 hedge fund letters, conferences and more Dalio believes that by studying past market cycles Read More
- Viggle Inc (NASDAQ:VGGL) currently trades at $5.73
- Market cap is $79 million
- This puts Viggle’s P/S ratio at 4.59
- Base Case (Viggle trade in-line with entertainment stock peers)
- Viggle Inc (NASDAQ:VGGL) P/S: 2.48
- Implied Share Price: $3.09
- Downside: -46%
- Bear Case (Viggle trades in-line with S&P500 P/S)
- Viggle Inc (NASDAQ:VGGL) P/S: 1.56
- Implied Share Price: $1.95
- Downside: -66%