WIN - WIndstream's 70% Loss Shouldn't Be A Reason To Celebrate
There is a great irony going on with Windstream Holdings (NASDAQ: WIN). At the beginning of this year, the company announced that it would sell its Earthlink business for $330 million in cash. Since the date of this sale, the company’s stock has risen over 40%. Investors seem to believe that asset sales will shore up the company’s balance sheet. The irony behind this theory, is Windstream’s sale of Earthlink represents a terrible investment for the company.
A large portion of Windstream’s cash flow comes from adding back depreciation, yet the company’s goodwill and other