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IgnoranceIsBliss

10/29/19 11:58 AM

#221601 RE: sharinky #221598

The *structure* of the report was fine -- standard analysis motif

The *content* was what was off

And if the revenue projections were actually based on what they released today, they would have been EXPLICIT about that at the time -- the primary vs secondary thing would have been SO central to the thesis.

They didn't have that. They needed $17 as a rec. They backfilled the numbers to fit that. When they got pushed, they fabricated a reasonable rationale -- which has been out there with shorts for awhile.