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SLQT - SelectQuote: The Retrenching Plan May Not Work Out
SelectQuote Inc.
Shares of SelectQuote have fallen nearly 90% year to date as the company's business was decimated by lower-than-expected performance during the critical Medicare season.
The company is planning on pulling back on growth initiatives, and isn't expecting growth until FY24.
At the same time, SelectQuote retains a heavily indebted balance sheet against deeply negative adjusted EBITDA, which will be a red flag for investors during this risk-off market.