Tarsadia Investments Sends Letter To Board Of Cue Health, Inc.; Calls On Board To Take Immediate Action To Prevent Further Destruction Of Stockholder Value
Portfolio Pulse from Happy Mohamed
Tarsadia Investments, a top 10 stockholder of Cue Health, Inc. (NASDAQ:HLTH), has sent an open letter to the company's board of directors, criticizing its capital allocation and cost structure. Tarsadia has called for immediate action to prevent further destruction of stockholder value, including a strategic review, cost realignment, and the appointment of stockholder representatives to the board. Cue Health's share price has declined by 97% since its IPO, and its quarterly product revenues have also fallen by 97%.
August 31, 2023 | 2:05 pm
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Cue Health's stock price has significantly declined, and its financial situation is dire. Tarsadia Investments' call for immediate action could potentially lead to changes in the company's strategy and management, which may impact the stock's performance.
Cue Health's stock price has declined by 97% since its IPO, indicating a significant loss of value. Tarsadia Investments, a major stockholder, has criticized the company's management and called for immediate action. This could lead to changes in the company's strategy and management, which may impact the stock's performance in the short term.
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IMPORTANCE 100
RELEVANCE 100