Things can change fairly quickly in the stock market and that is what seems to have happened with the Genesis Healthcare (NYSE: GEN) stock in recent days.
Back in February, the stock had managed to hit a fresh high but since then it has been on a retreat and has tanked by as much as 50%. Earlier this month, the company announced a three-step plan by way of which it aims to improve its financial situation and strengthen the balance sheet.
The company is looking to cut its debt by as huge as $236 million. One of the important steps in this regard is to terminate as many as 51 master lease agreements with Welltower with regards to senior living properties. The company is expected to get $170 million worth of debt after the transaction is completed. ReGen Healthcare is going to pump in $50 million into Genesis and take its stake in the company to 25%. Lastly, Genesis is going to delist from the New York Stock Exchange. However, the announcement of the plan did not seem to go down particularly well with investors.
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Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life