We all love a comeback story. Steve Jobs. Tiger Woods. Mario Lemieux. These episodes tug at our heartstrings and make us believe anything is possible. The same applies to the stock market. You can make a fortune buying shares of a damaged company on the verge of a turnaround. And by getting in early, investors can often lock in robust yields.
Case in point: TerraForm Power Inc (NASDAQ:TERP). The partnership’s parent company, SunEdison Inc., filed for bankruptcy in 2016 following a downturn in the renewable energy market. Rising costs, weak revenues, and a high debt load hurt TerraForm’s results further. The business, however, has staged something of a comeback. New management, after Brookfield Asset Management Inc (NYSE:BAM) took a controlling stake in the firm, has energized the business. Last year, management outlined a three-part process to return to profitability, which focused on slashing costs, repairing the balance sheet, and boosting revenues from existing assets.
Source: Income Investors
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Blue Skies for This 6% Yielder
Posted by D4L | Wednesday, June 26, 2019 | ArticleLinks | 1 comments »________________________________________________________________
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