Short seller says Csquare shares are worthless

Dalrymple Finance CEO Keith Dalrymple published a report valuing data center operator Csquare (CSQR) at $0 per share. He argues much of its portfolio came from failed businesses and that ABS holders, not shareholders, will capture returns from growth.

• Dalrymple puts long-term value of CSQR shares at $0
• Csquare portfolio spans 80+ facilities, 3.5M sq ft and 400MW
• Shares trade near $14.90 versus $21 at July IPO
• About 95% of upgradable vacant space is pledged to ABS, he claims