Outspoken REITs analyst Rob Simone discussed the big breaking news that Steward Health Care has filed for chapter 11 bankruptcy protection on The Call @ Hedgeye this morning.
“I think it’s important to remember that this company, which is obviously MPW’s largest tenant, has really been insolvent the entire time,” said Simone. “[Chapter 11] is the unfortunate, but necessary beginning of what’s going to be a painful healing process.”
“Many of you wouldn’t have known otherwise if you were long this stock,” added Hedgeye CEO Keith McCullough. “You would’ve had the same old bullsh*t. Old Wall Street defending the company right to zero, and it’s all a lie.”
Click above for more details on the situation.
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