It has been a frustrating year for HC2 shareholders: the capital structure has obscured the operational progress in many of the HC2's subsidiaries.
The sale of HMN will be the first step to tackle the capital structure. The sale of the rest of Global Marine will also happen soon.
Once the balance sheet is repaired and Falcone delivers his promises, investors will gradually return to focus on the operational performance of the different subsidiaries.
HC2's portfolio is full of positive optionalities (TV stations, Pansend) that may provide additional surprises in 2020. As mentioned in the 3Q'19 CC, the management is open to all options.
HC2 Holdings (NYSE:HCHC) is an investment holding company founded in 2014 by Philip Falcone. After publishing a string of positive news for the stock in October 2018 (the initiative to explore "strategic alternatives"