- StoneMor (STON +9.1%) last night filed a $500M mixed securities shelf offering, and the hope for a capital raise has investors buying.
- The company two days ago held an investor day, and here are the presentation slides.
- "What Went Wrong," is the tile of one section. Listening to outside consultants, the company one year ago slashed its sales staff in an effort to boost productivity - it hasn't paid off. Added to that was a "lack of vigilance" on cash cycle management.
- Action steps to correct include rebuilding the sales force while locking in some of those cost cuts.