Enthusiast Gaming Holdings Inc T.EGLX

New Press Release - Enthusiast Gaming Announces Appointment of Interim Chief Executive Officer

Nick Brien to Depart; Chairman Adrian Montgomery Appointed Interim CEO LOS ANGELES, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSX: EGLX), the leading gaming and media company in North America, today announced that Nick Brien has...read article.

[Puma1back]

Well, resignation likely means they did not hit a 4th quarter positive ebitda. Nothing else makes a lot of sense.  so selling in December was likely not tax loss driven - it was ebitda loss selling

[1condor]

Management shake up and down she goes. How low this time? Sub 20's? Always interesting watching these struggling companies come apart at the seams.

[Steve33]

Don't like this at all. I was picturing getting out of this at breakeven. We need a release with a monetary value attached to it. That would shoot us up like there was no tomorrow. I wonder if I can get in touch with IR. They got something going on with saudi arabia. One deal from them would rescue there financial burden. Stay tuned, I'll try.

[Puma1back]

Canaccord just released some comments and they are drawing same inference as below from the CEO departure. and the first to tumble the target from $1.50 to 25 cents.   

[Steve33]

That sounds like bs.  Don't be a snake. Most people here are looking for share price appreciation.

[1condor]

Steve33...Everyone on this board knows how I feel abouit this stock. I have consistently posted about the stock being a sell. Why do so many continue to hang on is beyond me. Most here are likely down 70, 80 or 90 percent yet think management is going to snap their fingers and drive the stock back up to a buck or higher. I will repeat this again...it is not going to happen. 

[Steve33]

Why would you sell at this point when your shares are pretty much useless at 20 cents. Im not going out and telling everybody to start a new position in this company.They are a midcap and if they can stop the ship from sinking you might as well stay on the boat. Averaging down would seem quite reasonable at this price. Anyways, I talked to Matt today. Reasonable guy. He said Nik left because he

[1condor]

Steve33...management saying they are "staying the course" is a slap in the face to you investors. Staying the course is not working...just look at the SP. Again, I dont know why many here didnt see this nose dive coming..there were more red flags than a North Korean military parade...yet most continued to hold or even add to your positions. Just strange.

[Steve33]

[Niceneasydoesit]

That didn't last long! Either he blew it, or the company had ideas that he doesn't support.

[Puma1back]

interesting that the only executive on the release was the new CFO - maybe there were issues with their relationship & he lost. CFO's very rarely get tagged on  non numeric releases.