GREY:TSTIF - Post by User
Comment by
StocksFTBon May 15, 2018 10:33am
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Post# 28032250
RE:Sum It All Up
RE:Sum It All Up
Good post Drwong
The product does appear to be best in class but the management and execution is not.
You can suggest various reasons for institutional selling and retail selling for that matter, but the big picture is that no one trusts this management team, which is a big problem.
22% of shareholders withheld their votes for rumble on the proxy material and the date for submitting those votes was May 7th, i.e. you were required to vote before seeing that goose egg of a quarter.
After that quarter I would suggest that the bulk of investors have completely lost faith in rumble, despite the 510k approval they received after the quarter.
You earlier suggested that we should stop bashing him and that now he is the CEO for another year. I would disagree. When you start with a 22% withhold rate and then you put out a quarter far worse than anyone was expecting, I would suggest that you now get shareholders demanding he be removed.
All that requires is one sizable shareholder to request a special meeting, suggesting a new slate and demand he be fired.
I hope he is fired as the stock will dramatically lift after he is fired. The fact that the stock couldn't rally on the 510k and is still far below where it was the day before he reported Q1 results is quite telling. I know your answer to the stock weakness will be ninepoint selling, but by your own numbers there is no suggestion they are indiscriminately selling, on the contrary, it appears to have been done in quite an orderly fashion within the context of the market, so again i say the problem is management which is why there is not enough buying for the stock to stabilize.