Everyone ends up bagholding a steaming pile of turd in the markets sometimes and for me that time is apparently now. The company is Saipem (SPM.IT)
In mid-January, in a drastic turnaround from its October update, Saipem informed the market it would incur a loss equal to more than one-third of its equity
We are still in a period of extreme uncertainty regarding what any raise/dilution will look like
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.