Ebix (EBIX -14.5%) dives below $10 after SA contributor Gotham City Research takes fresh aim in...

|About: Ebix Inc (EBIX)|By:, SA News Editor

Ebix (EBIX -14.5%) dives below $10 after SA contributor Gotham City Research takes fresh aim in the wake of the Goldman deal termination, arguing shares are worth $8 at most and "likely headed to $0." Gotham points out Ebix has a negative net cash position, thinks it could owe $100M+ in back-taxes/penalties/interest, sees its numerous investigations as a major distraction for management, and believes a criminal indictment is possible. (Feb. 21 report)