Howie Man
Long/short equity

Amira Nature Foods: Only In America (Under The JOBS Act)

Amira Nature Foods' (ANFI) stock price and perhaps very presence on the NYSE defies reason. Even a cursory look below the surface reveals a low quality, commodity business with a host of highly concerning investment risks. As with Professional Diversity Network (NASDAQ:IPDN) that was written up earlier this month, Amira went public last fall as an "emerging growth company" under the reduced disclosure standards of the JOBS Act. This is a company that would not have met SEC nor NYSE standards prior to this Act. It has yet to even report earnings for the March 31 quarter. Remarkably Amira trades at 19x EPS while its competitors trade at 2-4x EPS. (Note: LTM EPS is $0.48 per...

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