Keubiko
Long/short equity, deep value, value, special situations

Recent Update Further Cements The Bear Case For Destiny Media

"Oh, don't worry about that. You're just finished, that's all."
- Krusty The Clown, The Simpsons

Since my first article on Destiny Media (OTCQX:DSNY) in February (available to Pro subscribers here), its shares have declined by approximately 42%. ($1.34 to $0.78) and down about 72% from their $2.75 peak reached 9 months ago. I revisited the DSNY story in July 16 article (found here) and the shares have since eroded by 15%.

(click to enlarge)
Source: Bloomberg

My previous articles (and valuable exchanges in the comment section) outline the bulk of my bear thesis on DSNY. I will recap only briefly here:

  • DSNY's core (>97% of revenue) PlayMPE business is not a growth business, is vulnerable
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