Shares of Chemours (CC) plunged on Friday on the heels of a bearish report written by short-seller Andrew Left of Citron Research. The report says Chemours was designed for bankruptcy. The specialty chemicals company was spun off from DuPont (DD) last year. Chemours entered the world with a $4 billion debt load, which Left says is unmanageable. But, what is more troubling to Left is the unknown litigation liabilities Chemours may face. The company agreed to indemnify DuPont from claims resulting from lawsuits. 'The liabilities Chemours could face are tied to cases brought against DuPont in which plaintiffs say they developed cancer and other diseases from a chemical used in the production of Teflon.' The chemical was found in the drinking water near DuPont's plants in West Virginia. Shares of DuPont traded down just fractionally in Friday's session.
More from Video
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.
Takeda Pharmaceutical CEO Talks Big Pharma Trends
One of pharma's biggest CEO's talks M&A action on the exchange.
Real Money Video Wrap: Citi Surges as View of Stability Saves Sentiment
Citi overcame a mixed print to send its stock surging on Monday.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.