Over the weekend, I read a piece that someone suggested this was intentionally done...selling the board or company leadership into this stupid mistake....to downprice the company, and it would be under-priced enough that someone could buy it by summer of 2019 for a quarter of the value today.
Now I admit....that’s awful stupid. But I’ve seen companies pretend they had great profit and numbers when they didn’t....and achieved a handsome profit for a lousy company. I could imagine someone in the top chain convincing everyone on the board to buy into this, and have the next owner lined up to buy it.
Up until this point, they had a fair amount of business.
Sounds fair, I really couldn’t see how business executives and CEO’s would do something this dumb on a whim. There had to be some thought process aside from appeasing the anti-Constitution folks with a headline for a week.