The company is currently down $1.4 billion and has more than quadrupled in value since it began trading in April 2018.
This has prompted many to ask what could have possibly driven Valeant stock to such a low price.
Here’s what they’re wondering:1.
How does the stock make its way up a $9 billion price-to-earnings ratio?2.
How can Valeant afford such a massive buyback?3.
How much capital did Valeant need to buy back its stock and is that still going to be enough?
Valeant’s stock is currently trading at a price of $9,673.50 per share.
The stock is up 24.9% since its May 30, 2018, closing price of approximately $9.9 billion.
The company has more cash on hand than it had in March 2019, when it had a $10.8 billion cash position.
Valeants stock is also up 22.7% in value from its July 31, 2018 closing price.
Valeant’s shares are up 27% since it was trading at around $9 per share in April of 2018.