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PSO - Houghton Mifflin: Another Opportunity For 70% Returns
Pearson Plc
Introduction
Almost one year ago, I wrote up Houghton Mifflin (HMHC) here (September 2018 Write-up). At that time, the stock was trading at $6.00 per share, and I saw upside to $10/sh (+70%). HMHC jumped +23% when they reported 3Q earnings on November 8th, and by the end of that month, the stock hit my price target ($10/sh), and I exited.
The stock traded sideways for the next few months following my exit, until in February, news hit that Florida's governor had taken the unprecedented move to defer the state's Math adoption from