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ISCB - Vroom: At $1.50 A David Tepper-Type Opportunity
iShares Morningstar Small-Cap ETF
Vroom reported its Q1 FY 2022 results, May 9th, and guided the street to $500 million on unrestricted year-end 2022 cash.
Outside of its owned UACC unit, which they paid $318 million, to acquire in February 2022, Vroom's only long term debt is $625 million 0.75% coupon 2026 convertible.
I would argue the market is incorrectly pricing Vroom's equity, at least $1.50 per share, for imminent bankrupt.