EquitiesResearch
$TITN An old thinly traded ticker trading near a 52 week high,
So you are paying $24 for a store that is selling less, losing money, and paying the bank to store unsold tractors.
Sales are shrinking: $2.76 billion → $2.70 billion → $2.43 billion. Last quarter was down 9%.
They used to make $111 million in a good year. Then they lost $37 million. Then they lost $54 million.
They are still losing money.
Last year they showed a lot of “cash.” Most of that cash came from selling off old tractors that nobody wanted, not from a healthy store making money every month.
This year that cash already flipped negative.
They have about $30 million in the bank and about $900 million of debt. The bank is owed more than the stock is worth. #BEAR When the liquidation slows, the “FCF” disappears. That is the tell. Look out below
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