Kerrisdale – Tucows Inc. (TCX): Three Terrible Businesses In OneGuest Post
Kerrisdale Capital is short shares of Tucows Inc. (NASDAQ:TCX).
Tucows (TCX) operates two declining tech/telecom businesses and a fledgling low-return fiber division, yet is being valued by the market at 60x trailing normalized earnings. Its two profitable segments barely deserve double-digit earnings multiples given their bleak growth profiles, and the company's cash flow is . . .
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