Why Tabula Rasa HealthCare (TRHC) Shares Are Trading Higher Today

Tabula Rasa HealthCare Inc TRHC expects Q2 sales of $72 – $73 million, exceeding the prior guidance range of $66 – $69 million and the consensus of $67.61 million.
Gordon Tunstall, TRHC's Lead Independent Director, said that the Board and management team have spoken with Indaba Capital Management on multiple occasions since their initial investment in April to understand their point of view."
Yesterday, Indaba issued a letter calling for the removal of Tabula Rasa's top executives.
According to Indaba, the TRHC board should dismantle the husband-and-wife management team over conflicts of interest and sustained value destruction since the IPO in 2016.
The largest investor calls for the resignations of CEO and Chairman Calvin Knowlton, Executive Director Orsula Knowlton, and lead independent director Gordon Tunstall after receiving sizable "withhold" votes at the 2022 annual meeting.
Indaba says Tunstall cannot be deemed truly "independent" given his long-standing ties to the Knowltons.
Price Action: TRHC shares are up 10.7% at $2.88 during the premarket session on the last check Thursday.

Tabula Rasa Sees Better Than Expected Q2 Sales, Just As Investor Calls For Removal Of Top Executives