- For much of the time since its 2017 arrival on the public markets, CNNE stock has been a play on both management and 'sum of the parts' valuation.
- Last year, the fundamental side of the case started to weaken, with the stock converging with a reasonable SOTP valuation.
- A 22% decline this year, however, has reopened the gap — and seemingly reignited the bull case.
- The question is why the stock has sold off, and while there are some possible reasons, none seem large enough to contradict the broader opportunity here.
For further details see:
Cannae Holdings: The SOTP Case Comes Back Around