Ashraf Eassa
Long/short equity, contrarian, independent research, tech

FalconStor Continues To Offer Poor Performance With A Side Of Lofty Promises

FalconStor (NASDAQ:FALC) is a name that I have been bearish on for quite some time, as I have believed that its core business is undergoing intense secular headwinds. The company's financial position continues to deteriorate, the business seems irreparable, and the take-over thesis has apparently completely dissipated as the company announced in its report that it has terminated its relationship with Wells Fargo (NYSE:WFC). Further, it appears that management misled investors with respect to a potential lawsuit that it appeared to have intended to file against the estate of former CEO ReiJane Huai. The report, as well as the earnings call, were complete disasters and I see little hope for this name going forward.

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