When Pockington traded Wayne and Marty away… ...I thought I would never experience a greater disappointment. Didn't think it possible. Then along came this Aimia board and C-suite.
How are these professional investors not buying back their stock hand over fist right now? What better moment are these obscenely highly paid people waiting for? Every share repurchase at any price upto $7-8 is enormously accretive. Not doing so is an obvious and rather embarrassing signal of incompetence. I would feel a measure of sympathy for them were it not such an egregious and costly error for the rest of us.
Post closing, daily volume since that Friday should've been in the millions, driven by open market repurchases. That action would be sending intrinsic value skyrocketing, taking analysts ratings and outside investor interest along with it. Instead we are apparently going to just watch them move from one giant illiquid investment to another as they award themselves eight figure stock grants and million dollar bonuses. Simply unbelievable.
Phillip Mittleman, David Rosenkrantz, Michael Lehman....if you are reading this, change course immediately. Stop listening to whomever is blocking this path forward, and do the right thing for shareholders. We believed in you and have waited for years for this moment. And you are blowing it spectacularly.