Stock Price
The stock is trading like it is headed for disaster. I do not believe that to be the case. A 20% drop from the recent highs of around $11 would put it at $8.80. I do think this is going to be a bad quarter and fcf might surprise to the downside. They may also go mute again on forecasting 4th qtr and full year cash flow and ebitda due to Covid uncertainty. Unless there are other restrictive covenants on debt, or things are much more dire than we realize, Storey should announce and institute a buyback this earnings release which would coincide with the expiration of the poison pill and put a floor in the stock price.