RE:RE:What's next... I dont see them saying a whole lot until the earnings call. I'm sure much will be discussed from both the new team, as well as some hard questions from analysts. I like Troys comments at the Banff conference a few days ago, he seems to be fired up, and ideally is a mover and shaker instead of just a blamer. I think Doug was doing what he could on the regularoty side of things, but at the end of the day we need action rather than reaction. There are many scenarios that they can get out of this, and I dont believe the situation to be nearly as bad as the share price reflects. As Troy said at the conference, those channels were driven by the Canadian content to begin with. People are tuning in to see Scott McGilvarey and Bryan Baumeler, myself included. Sure they lose stuff like Restoring Galveston, or the Magnolia side of things, but honestly those we're dying shows with exuberant licensing fee's that didnt drive most of the views. As someone who enjoys building and reno shows, the core of that channel was the Canadian content to begin with, its not nearly the loss the market thinks it is, and they have a good ammount of time to react, and put in place new programming. The market priced in the full 150m loss in revenue, when in reality its far more realistic for a ~20-30m loss. Dont get me wrong, I love a good Demo Day with Chip and Joanna, but they we're losing steam to the better shows like Scotts Vacation House Rules, or Island of Bryan, which both stay with whatever new name Corus comes up with for those channels.
Does the ship need to be righted? No doubt. Is it being manipulated before earnings because they're doubling down on the sentiment and dog piling it? Yes. Is there risk associated? Yes. But could this turnaround in a big way with new leadership? Big time.
Its far too soon to throw in the flag, and at this valuation its a pretty safe bet. At least until we can lift her skirt and see more. (which there is plenty of time for before any major concern).
BlueJay2020 wrote: That's definitely needed, but they need to be given a bit of time to figure out where things are at and what the priorities are in the short-term.
We are getting close to my suggested 10c floor. The stock is in the hands of day traders and penny flippers now.