There is no support level for the Sh-trix stock. Sub $60 is a real possibility.
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Approaching 85
Four year low after 18-months of the pandemic induced remote work world
Assume new Vmware spinout will replace Citrix in the S&P 500. Funds probably dumping stock in anticipation
Citrix is going to go private, no doubt about it. The financials are not good, and the company is in huge debt. With inflation and interests surging, with 10% growth it’s not going to be enough to be in profit. The Dividends started a few years ago is also adding strains to meager margins. It’s also not easy to come out and answer the shareholders and finance analysts when you are on the brink of bankruptcy quarter after quarter.
It’s better to go private, correct the mess without being answerable to everything and relist after 5-10 years.
Lowest stock price is also a boon in disguise as employees will need to be less compensated for RSUs they are holding. Layoffs and chaotic situation also will ensure higher attrition, so not a bad thing at all as far as accounting calculations are concerned.
If it goes low enough Citrix, private equity will set the support and buy them out.