DISQUS

Jeremy · 4 months ago

Interesting pickup for Falcone. ZAP is selling for less than cash value. It looks like Falcone is now fully in control. Thus, a bet on ZAP is a bet on Falcone's investment abilities (with a $13 - $15 million cash cushion). I wonder why the Glazer family didn't just liquidate/disolve the corporation. Maybe they wanted Falcone to buy their cash, but keep a few of them on the payroll.
marketfolly · 4 months ago

Very interesting pickup indeed. I was curious as to the Glazer family situation as well. If it matters, the Glazers have a separate holding in Manchester United Football Club (an English soccer team) where they have loaded the club with massive amounts of debt. Not to mention, they have so many other obligations like the Tampa Bay Bucaneers, etc. Who knows what was going on with that.
gb · 4 months ago

Do you think Falcone wil use this cash now as if it were sitting in his fund's account, and go out and buy equities and distressed debt? While that's not a terrible situation, I think I would prefer a liquidation for a quick 10% gain, as I got in at $7.1 recently...
marketfolly · 4 months ago

Since Falcone is a longer-term oriented investor, I don't think he's in it for the "quick gain". But, that is merely my opinion and as we all know, crazy things can happen in the markets. I would assume he plays it for opportunities he is seeing.