This Stock is a Zero
After 15 years of publishing, Citron can confidently state that Chemours (NYSE:CC) is the most morally and financially bankrupt company that we have ever witnessed.
Highly material events for Chemours are unfolding nearly every day in the matter of DuPont’s liabilities due to its manufacturing of C8 — also known as PFOA, and its 60 year pattern of willfully hiding its knowledge that the chemical was toxic at extremely low levels of exposure, and was being dumped into the environment at its facilities. DuPont dumped these liabilities into spin-off Chemours.
But don’t count on Chemours to disclose these material events. The company doesn’t even post reserves on its balance sheet for the snowballing legal and environmental costs.
The bizarre reality is that Chemours was designed to go bankruptcy. The only question is when.