His company’s numbers raise a puzzling question:
It consistently bled billions but publicly traded at over $10 a share?
Newsweek ^ | 09/01/2023 | Sam Nunberg
Posted on 9/2/2023, 11:10:34 AM by Responsibility2nd
~snip~
Let’s start with the basics. Ramaswamy has funded his campaign through the sale of over $32 million in Roivant stock options in February of this year. This could lead one to believe that Roivant, based in Bermuda, is thriving and that Ramaswamy is a great entrepreneur. Except the company reported staggering losses of $1.2 billion in its financial report of March 2023. This isn’t a one-time slump: In March 2022, when Ramaswamy was still Roivant’s chairman and a major shareholder, the company reported an annual loss of $924.1 million.
~snip~
The reality is that Roivant’s finances were abysmal under Ramaswamy’s watch. During his tenure in 2019, the company’s net operating loss exceeded $530 million. By 2020, the losses had doubled to over $1 billion, accompanied by a 65 percent decline in revenue.
These numbers raise a puzzling question: How can a company consistently bleeding billions trade at over $10 a share?
~snip~
While Ramaswamy vocally opposes ESG principles, Roivant’s major institutional investors—including Morgan Stanley, Viking Global, and BlackRock, the very firms he criticizes by name—are among its largest stakeholders, owning over 500 million shares. Ramaswamy himself holds more than 80 million shares, making him an essential partner of these major ESG funds.
In a deeply ironic twist, Ramaswamy’s anti-”woke” campaign is being bankrolled by the profits reaped from the very policies he denounces.
~snip~
(Excerpt) Read more at newsweek.com ...
NEWSWEEK——ironically, Ramaswamy’s anti-”woke” campaign is being bankrolled by profits reaped from the very policies he denounces.....ESG.
While Ramaswamy vocally opposes ESG principles, Roivant’s major institutional investors—including Morgan Stanley, Viking Global, and BlackRock, the very firms he criticizes by name—are among its largest stakeholders, owning over 500 million shares.
Ramaswamy himself holds more than 80 million shares, making him an essential partner of these major ESG proponents.
These numbers raise a puzzling question:
How can a company consistently bleeding billions be publicly traded at over $10 a share?