Thursday, August 08, 2013 2:11:04 PM
http://seekingalpha.com/article/1609142-wsp-holdings-will-reward-short-sellers-soon
Recommendation: Short WSP Holdings (NYSE: WH)
Catalysts: NYSE Delisting; termination of merger agreement after August 21; failure to obtain waivers for credit facilities from the bank
6-Month Target Price: $1.5 or less
Thesis
WSP Holdings (WH) is likely to terminate the merger agreement within a month. Judging by the current prices, investors seem to be confident that the deal will not fall through. However, the stock follows the exact trajectory that China Advanced Construction Material (CADC) took a year ago before CADC cancelled the going-private deal. Furthermore, the company has been in breach of the debt covenants since June 2012 and whether the company is a going concern remains a question. Last but not least, the stock is likely to be delisted from NYSE because the company may fail to file its annual report within the 6-month grace period. If any one of the three events occurs, the shares are likely to trade below the price level immediately before the announcement of the going-private offer.
Recent WH News
- Super 8 Unveils Next Generation Guestroom Design • PR Newswire (US) • 09/17/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/10/2024 08:21:12 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/06/2024 06:56:48 PM
- Wyndham Debuts Registry Collection Hotels in the U.S. with Newly Renovated The Mining Exchange • PR Newswire (US) • 09/05/2024 01:00:00 PM
- Wyndham Rewards Ranked Best Hotel Loyalty Program by Readers of USA Today • PR Newswire (US) • 08/20/2024 12:00:00 PM
- WYNDHAM HOTELS & RESORTS DECLARES QUARTERLY CASH DIVIDEND • PR Newswire (US) • 08/15/2024 08:30:00 PM
- Wyndham Opens First Trademark Collection Hotel in South Korea • PR Newswire (US) • 08/15/2024 12:00:00 PM
- Wyndham Rewards Tees Up for 85th Annual Wyndham Championship at Sedgefield • PR Newswire (US) • 08/08/2024 12:00:00 PM
- Wyndham Rewards Unveils Mural Honoring The Greensboro Six at Gillespie Golf Course • PR Newswire (US) • 08/06/2024 10:00:00 AM
- Sabre Hospitality Extends Long-Term Relationship with Wyndham Hotels & Resorts • PR Newswire (US) • 07/31/2024 12:30:00 PM
- Super 8 by Wyndham Turns Back the Clock with $8.88 Room Rates • PR Newswire (US) • 07/29/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/25/2024 08:00:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:32:29 PM
- WYNDHAM HOTELS & RESORTS REPORTS STRONG SECOND QUARTER RESULTS • PR Newswire (US) • 07/24/2024 08:30:00 PM
- First ECHO Suites Extended Stay by Wyndham Opens in South Carolina • PR Newswire (US) • 07/11/2024 10:00:00 AM
- Calling All Cheese Lovers: AmericInn by Wyndham Will Pay Your Family $15,000 to Uncover the Midwest's Cheesiest Delights • PR Newswire (US) • 07/09/2024 11:00:00 AM
- Wyndham Connect Rolls Out Across North America, Elevates the Guest and Owner Experience • PR Newswire (US) • 07/01/2024 12:00:00 PM
- Stunning Dolce by Wyndham Versailles Opens in Famed Domaine Du Montcel Park • PR Newswire (US) • 06/27/2024 12:00:00 PM
- Wyndham Opens First Dolce Hotel in Türkiye • PR Newswire (US) • 06/26/2024 12:00:00 PM
- WYNDHAM HOTELS & RESORTS TO REPORT SECOND QUARTER 2024 EARNINGS ON JULY 24, 2024 • PR Newswire (US) • 06/26/2024 10:30:00 AM
- Wyndham Rewards Unveils Summer's Hottest Travel Deal: 30 Nights of Hotel Stays for $499 • PR Newswire (US) • 06/20/2024 12:00:00 PM
- Artist Vincent Ballentine Selected to Help Honor Greensboro Six; Unveils Concept for Wyndham Rewards Commissioned Mural • PR Newswire (US) • 06/17/2024 06:00:00 PM
- Sam Nazarian's sbe Unveil First Sites for Project HQ in Montreux, Switzerland and Detroit, Michigan • PR Newswire (US) • 06/05/2024 03:41:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:58:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:58:46 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM