SCCCF - What Lies In The Shadow Of The Building? A Short Thesis Based On The Dissection Of Sunac's Financial Statements
Around two years ago I wrote my first article about Sunac. Up to that date the company’s stock price had surged more than 500% helped among other things by investment banks’ positive coverages, something I found quite curious given the picture portrayed by the firm’s financials at that time. Back then I expressed my concerns in the investment thesis (which you find here, you can read it to better contextualize this article). In the course of the following year the firm’s stock price decreased by as much as ~45%, just to quickly recover thereafter.
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