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Strategies & Market Trends : The Art of Investing
PICK 59.35+2.5%Jan 23 4:00 PM EST
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To: sixty2nds who wrote (7876)1/9/2024 2:22:14 PM
From: Sean Collett1 Recommendation

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sixty2nds

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This did move the needle I believe as other stocks like $WWW also saw insane movement yesterday and they presented there too.

Nothing major came from it though. Basically they have $1B of cash and $2B in revolver capacity to continue to pay down debt. I am expecting the 2024 notes to be gone or significantly reduced by next SEC filing (mature in April 2024 I believe) and a good chunk of the 2025 reduced. Possibly will slow Mr. Market on the fears of bankruptcy as leverage continues to decline.

While I don't expect Q4 revenue to explode by any means I think we will see further evidence that customer declines have stabilized.

The impact from Zulily gone will continue to be felt. Given Zulily couldn't stay in business on its own for more than a few months speaks volumes on how bad it was dragging Qurate.

Most of what was shared did not differ too much from their investors day presentation.

I have been adding to my $QRTEA position recently. Biggest risk I see is delisting for the common but they could file an extension and I believe at the current price of $0.92/s any real good news will easily get them above once Mr. Market wakes up. I think presenting at ICR (which is heavy with investors in attendance) was a nod to Mr. Market that they are mistaken. Bankruptcy is not a concern I see in the near term at all.

Happy investing,

Sean
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