AMC wanted to be authorized to double their share count in early May but it was voted down. Even if they don’t, you are continuing to issue equity and paying down your debt. For a consumer business that was in both a financial and secular crisis, could these crazy moves actually work? Customer acquisition in any business is expensive and tough but now you have an army of 3 million retail investors who are both financially and emotionally tied to you. This is such a fascinating combination of consumer marketing and investor communications. I know, it’s weird, but this is a weird time. I also can’t help but wonder if he had on those gold toe dress socks that my own Dad always wore. I can’t stop thinking if the lack of pants was a bit of engineered virality by his already-proven-to-be-genius social team. Is he really a no-pants-Zoom kind of guy? I mean, he was even wearing a shirt and tie! Sure, a Boomer getting caught no-pants-Zoom is not an unfathomable thing, but Adam Aron has been at the top of a very buttoned-up game for a long time. This guy is as establishment as it gets, and I imagine, as polished as it gets. He's a Harvard undergrad and Harvard MBA. I will refrain from any references to emperors and clothes, but let’s note that Adam Aron was born in 1954, is a co-owner of the Philly 76ers, and is the former CEO of fancy things like Vail Resorts and Norwegian Cruise Lines. Yes, as his camera fell, AMC CEO Adam Aron was wearing no pants during the interview. Whatever the opposite of collateral damage is, that was them. I certainly can't blame any of these guys - reporting indicates they were pushed out by the new Ryan Cohen regime. The WSJ has a good writeup of all the numbers. The Gamestop CEO, who started at the company in April 2019, and is walking away with potentially a couple hundred million. He announced he'd be leaving the company at the end of February, which allowed for the accelerated vesting of his equity, netting him tens of millions of dollars for less than two years of work. Well Gamestop CFO James Bell clearly handled the pressure in his own way. seems like the type of guy you'd want to handle such a high-pressure situation. He was formerly the CFO of the PF Chang's holding company (awesomely named Wok Holdings). There have been so many times over the past decade I’ve thought, “things can’t get weirder and stupider.” And then they do.Īt that time I wondered about how Gamestop management would handle the January stock price rise : On January 28th, when Gamestop stock hit a high of $483 a share, I wrote, "when the tourists leave, Gamestop's stock will come crashing down." I was temporarily right (GME fell to the 30s), and then proven completely wrong: the tourists never left.
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