Q: Bit confused on WELL. In one response, it says it was a solid quarter with no negative comments. Management re-iterated guidance. In another response, issues raised about debt etc and it's rated a hold. Stock shot up in the morning and then gradually declined into a loss. Can you ofer an explanation on what's happening with WELL. Was the quarter encouraging or not.
5i Research Answer:
The quarter was good. The question referenced was asking what it would take to get the stock moving more. We answered that debt and cash flow need to improve to get a higher valuation. We are comfortable with the outlook and current valuation, but it needs a catalyst to get its mojo back. We would be comfortable owning it but would not see the need to buy more if owned.