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Spruce Point Short Maxar Technologies

New York short seller Spruce Point Capital announced a short call against Maxar Technologies today, saying that it sees a 45-55% "immediate" downside risk to the share price. "Based on our analysis, we provide compelling evidence that Maxar is out of cash, on a credit-adjusted basis will be in excess of its debt covenant by year end, perpetuating a brazen intangible asset inflation scheme to overstate EBITDA and EPS by approximately 17% and 79%, and must cut its dividend or face digging a hole deeper into debt" Spruce Point said. Spruce Point is having a strong year. A recent article by Institutional Investor...