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Jefferies' (JEF) share price is down from $27 at the start of the year to $10 today. Normally I wouldn’t be remotely interested in a financial company being beaten by rumors, as such situations are virtually impossible to analyze and often don’t end well.
In this case though, Jefferies has some very smart backing from Leucadia (LUK), which purchased another million shares in November, which raised their interest to 29% of the company.
Today, Jefferies issued a letter to address their current situation as detailed on CNBC below. The letter is available here.
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