(3) continued: during the boom times, this behavior - distributors loading product w/ zero end demand - worked for both $MED + its distributors. $MED offered promotional MLM bonuses high enough to profit distributors. For $MED, it worked so long as growth lasted. Game over.
Gotham City Research Fri 08 Nov 2019 17:09

(3) Unwinding of Distributor shenanigans: we flagged some insular distributor networks that appeared to "arbitrage" $MED MLM compensation schemes, during the boom times, such that these rings could dump $MED product onto ebay, etc., at severely discounted prices, yet still make $
Gotham City Research Fri 08 Nov 2019 17:04

(3) Unwinding of Distributor shenanigans: we flagged some insular distributor network that appeared to "arbitrage" $MED MLM compensation schemes, during the boom times, such that these rings could dump $MED product onto ebay, etc., at severely discounted prices, yet still make $.
Gotham City Research Fri 08 Nov 2019 16:59

(2) "Short term gain, long term pain" - We believe $MED has been experiencing "growing pains" + "quality control" problems not just in payment processing, but in other areas - like supply chain - as we highlighted last year. They are paying for taking shortcuts in the past.
Gotham City Research Fri 08 Nov 2019 16:54

(1) We do not trust $MED management's explanation for the credit card fraud issue - management's response to the questions about bad debt versus fake revenue seems suspect. We think there is more going on. At best, management provided (mostly) truthful, but incomplete answers.
Gotham City Research Fri 08 Nov 2019 16:49

Gotham City Research's updated opinion on $MED: We believe $MED shares face additional downside risk, and will reach $30-$58 per share within the next 12-18 months. (In September of last year, we arrived at a price target between $30 and $79 per share for $MED). Here is why:
Gotham City Research Fri 08 Nov 2019 16:44

Gotham City Research initiated coverage of $MED last year with a strong sell opinion. Shares are down -30% today, hitting the upper end of our price target. We will be providing our updated thoughts on $MED shares today. Link
Gotham City Research Fri 08 Nov 2019 14:43

“JP Morgan Downgrades $CRTO to Underweight : PT $16.00” A stone’s throw from our original price target, set 2 years ago. Well done, JPM! ?
Gotham City Research Thu 31 Oct 2019 14:50