Troops Inc. - TROO
Passing along an idea
Shares of Troops Inc. (TROO - $4.83) popped up on my screen the other day (market cap around $500M), and after browsing through their recent filings and starting on a write-up I discovered that an activist service had already done the work and beaten me to it. I tend to pass on names when there is already somebody out there with a story, so I decided to pass on the idea but thought I would just give you a quick heads up in case you had not seen it. Here’s a link.
https://bmfreports.com/articles/troo
The company was hit with a $50M judgment back in June where it was determined that “the Company is insolvent and unable to pay its debts to the Petitioner as a result of the Judgement” followed by an order on October 31st to list “all its assets of an individual value of HK$50,000 or more, whether in or outside Hong Kong.”
Why the stock decided to rally 600% in the past 6 months on that news is beyond me.
I did have a quick look at the borrow, and contrary to the usual situation when an activist report is already out there, it does appear to be at least somewhat available and at not a too egregious rebate.
While I will watch the name with some interest, I will not be adding anything else to the story.
Hope you are all well.