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Strategies & Market Trends : The Art of Investing

PICK 51.54

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Dec 24 4:00 PM EST

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sixty2nds

To: sixty2nds who wrote (7519)	9/7/2023 6:52:31 PM
From: Sean Collett	1 Recommendation of 10713

I am not sure this is driven by news as much as overall market is declining and they're being dragged down. Not much green today. I remain hopeful and positive on their turnaround. They have plenty of assets to leverage and FCF. Going through their 10-K they had $246M in deferred tax assets with $147M of that having to be used or it expires: They also have $238M in cash in foreign subsidiaries and there is no significant tax hit if they move to the US: I will be curious to hear what Greg Maffei said at the Goldman conference. I saw there was a transcript online but it is behind a paywall. The new lows are a problem though. I agree that hitting here can open up the door for ever lower, but at this stage I feel that Qurate isn't in the same spot as say WeWork or AMC. They have steady FCF and debt is trending down. -Sean

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