They stagger aimlessly along, overwhelming portfolios, dragging down defenseless stock indexes, and devouring hard-won profits. I’m talking about “zombie” companies, and, unlike movie monsters, they’re a very real threat.
There’s no killer sci-fi virus infecting them. These companies financed outrageous growth during the powerful bull markets of 2010 through 2021, packing on triple-digit stock price gains along the way, while making nothing of any real value.
The five companies I’m going to name in a second took on some $16.8 billion in debt for pennies in interest.
This post appeared first on Money Morning – We Make Investing Profitable.