Why to Buy the Stock:
- BREAKING NEWS: Joseph Papa has left!
- Perrigo remains fundamentally sound
- Ripe for a takeover to unlock even more value
In recent news, Perrigo’s (PRGO) current CEO Joseph Papa has announced he has left for rival company Valeant Pharmaceuticals (VRX). This news dropped the pre-market trading by 12.85% and as much as 19% at one point during the day’s session. However, the company is remains great shape fundamentally. We believe the massive drop in value today (a whopping 20% dip!) was caused by investors completely overreacting to news. Therefore, we believe this is presenting investors a great opportunity with this entry point before the stock begins to rebound.