Valeant Loses $100 Again As Ackman Call Ends, Citron Warns "Dirtier Than Anyone Has Reported"

Having lost an estimated $1.7 billion in his Valeant 'investment' Bill Ackman's almost-four-hour press conference this morning has done nothing to save the stock after yesterday's endless-whammies.  Having bounced up near $110 at the start of the call, VRX is now trading back near the after-hours lows last night, back under $100, after Citron Research warned Valeant is "dirtier than anyone has reported."

 

Ackman's rather lengthy call ended...

 

And Citron Research tweeted...

Holding Valeant's share price back below $100

 

Ackman concluded:

  • *ACKMAN: GOV'T WON'T TRY TO DESTROY VALEANT W/BIG PENALTY
  • *ACKMAN: `UNLIKELY' THAT OPTIMAL PATH IS TO PROCCEED W/O PEARSON
  • *ACKMAN: `NOT CURRENTLY SEEKING ANY BOARD REPRESENTATION'
  • *ACKMAN: `BLACKEYE ON MANAGEMENT' THAT THEY MISSED RE PHILIDOR
  • *ACKMAN: VALEANT MANAGEMENT WILL LEARN FROM PHILIDOR EXPERIENCE
  • *ACKMAN ON WORST CASE: VRX HAS TO ACCEPT SOME RESPONSIBILITY
  • *ACKMAN: THINKS VRX WILL REPORT GOOD RESULTS A QRTR FROM NOW

As humiliation for analysts continues...

Charts: Bloomberg