The Foundation for Financial Journalism (https://ffj-online.org/tag/sequential-technology-international/)
The velocity of the destruction of Synchronoss Technologies investors’ capital is brutal to behold: In less than four months, the value of their investments has been halved.
Dec. 6 was an extraordinary day for Synchronoss Technologies’ shareholders. They woke up owning a stake in a company with a market capitalization above $2.2 billion. By the day’s end, however, Synchronoss had purchased IntraLinks Holdings, an unprofitable data-room developer, valuing it as if its stock were worth almost twice its then share price. Also Synchronoss said it had struck a deal to sell its legacy business, the mobile-phone activation unit.