Mattel, Inc. is struggling with its $3 billion debt and is facing a probe as to whether it violated federal securities laws.
It has lost two-thirds of its value over the past three years and has a mountain of trouble as it tries to turn itself around with rapidly declining sales, operating losses, high-profile executive departures, and losing $531 million on sales of $4.5 billion last year.
If hedge funds, who are by far the biggest investors, pull out amid the propagation of recession fears, MAT’s stock could go to zero.
Read the source article at forbes.com
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