Snowcap Research issued a new note to investors, saying it is short FTAI Aviation (FTAI) because the firm believes its problems are deeper than market watchers allege. The firm says its investigation uncovered evidence of “aggressive” inventory accounting, repackaged Covid trading gains, and more “misleading” claims about its Aerospace business. Snowcap estimates as much as 50% of FTAI’s Aerospace profits are repackaged one-off gains from its Leasing Business. Based on its findings, Snowcap believes the downside in FTAI’s stock may be substantial.
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