For those of
you who have been following the Textura “story”, in other words, the (accusatory)
comments that Citron Research has made, (rebuttal) comments analysts have made
and (denial) statements from Textura, here’s another “part” of the story – a
follow-up note put up on Citron Research’s web-site on January 13th.
(First, some context; When Textura talks about its potential for
growth, it always refers to the “total addressable market” – using the
construction market!)
Before I
show the link to Citron’s site, I’d like to share with you my favorite
paragraph in Citron’s latest note:
“So instead of discussing management credibility or how
Textura has been operating for 10 years, and has booked losses of over $185
million, they would rather rely on such meaningless phrases as “total
addressable market”. Shit, if that’s the case they might as well open a pizza
shop … everyone loves pizza … the total addressable market is huge!”
Link to
article on Citron’s web-site:
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