Iron Mountain: Narrative-Driven Market Pricing
Iron Mountain(IRM) Seeking Alpha·2024-02-06 06:20
RiverNorthPhotography I have written eight articles on Iron Mountain (NYSE:IRM) dating all the way back to June of 2017. All eight were bullish. This will be my first bearish piece on IRM. The company has not changed. The valuation has. IRM’s market price seems to be driven by narratives which have caused mispricing in both directions. Changing narratives From 3-7 years ago, the overriding narrative on IRM was that it was risky due to its reliance on physical paper storage. The idea was that usage of pa ...