Investment Thesis
The market has been very harsh with Sports Direct (SDIPF) (SDISY) in the last 5 years, pushing the stock down 70% from its peak in August 2015. Negative sentiment surrounds the stock and its CEO Mike Ashley, and a few bad acquisitions have deteriorated the Company's financials. Despite this, I believe the market may have overreacted. The company is still sound financially and has the capabilities and resources to stir the business towards a path of higher profitability.
Introduction
Sports Direct is the UK's largest sporting goods retailer, operating a portfolio of sport,