Stock was ~68 a share now 18 months ago, performance compared to any decent MOMO stock, CRM performance has been simply has been pitiful. Any CRM holder would have done better simply holding the simple QQQ's with MUCH less risk. NAS at all time high, CRM stuck despite most every complicit brokerage firm having targets well above the current price, up to $100/sh., what's wrong?
Despite endless press releases, dozens of dreamfarce events, parties, celebrations, buy-out "rumors", splashes about the next "best ever" product ("wave analytics", yeah that sounds good), MB taking over a MILLION DOLLARS per day. Sales slowing, balance sheet weak, no earnings, strangely just enough pumping to ensure a few point gain so the execs can continue to cash in stock options, and ignore the expense that costs you long bag holders about 8% a year in dilution. Yeah, smart investment longs, this profitless company needs an 8% return just to pay for the excessive greed at this supposedly socially conscious company, valuation is mostly a mirage from one of the best snake oil salesmen ever.
Sentiment: Strong Sell
Exactly. He has stated time and time again he's not concerned with shareholder value. Well, that's because he gets 30 plus million dollars in options a year. Not to mention the stock that he sells at a huge premium. The stock can drop a ton and he'll still make money. Such a joke.
Hey big talker, you going to tell a lady that you want to smack her? You're one sick dude. By the way, I'm 6'3 and 230lbs and in shape, you want to come smack me idiot, I'm ready anytime.
Sentiment: Strong Sell
It's legal but terribly immoral. I'm a "capitalist" but this blown up fat boy MB and his over-hyped profitless company is surely on my "wall of shame". The problem I have, is all the pretending and lies. Enron anyone? A company without real earnings, 16 years now into existence, ridiculous. No real value to fall back on in a correction, weak balance sheet, slowing sales, rotating/retired CFOs (running from this "scam"), but just trust MB the next best thing is "right around the corner". Oh yeah and trust all the ANALysts and their $100/sh. price targets. If you're a MOMO, this is one very poor investment for the last 18 months. If you're a real investor, the only play is short.
Sentiment: Strong Sell
You've made my case. I first became aware of CRM when it was 25 pre-split in 2009. During the last 4 years there have been discussions about shorting and covering profitably.
The point is that a stock that still doesn't have GAAP earnings after years and after tremendous increases in price, even more due to a 4 for 1 split, is tremendously overpriced. There are no buyers of the company at current prices. The company would have been bought if the companies listed as suitors would have thought CRM was worth anywhere near the current price. In fact, there was no evidence that there even was a real offer. Unnamed sources of comments could be no real source of comments. There was a barrage of suggestive comments by pr sources, but isn't that their job. I stayed away from AKAM above 70 and I was right. IMHO savvy investors and traders will avoid being long CRM anywhere above its price when there was a trading halt over "volatility" and the stock reopened a few points higher. Without that "volatility" halt CRM would be under 69 even before dropping. Those who see CRM dropping below that price point even before any more selloff have just been delayed. More recent buying will just result in more selling.
It's a problem when a publicly traded company that's more than a dozen years old (and especially when it's even older than that) pays revenue to insiders to the extent there are no additional earnings. It's different for a publicly traded company. When a publicly traded company spends all its revenue to pay insiders and public relations sources, to the detriment of public investors, the amount of revenue is meaningless. Once a company has been public for at least a few years, there should be GAAP earnings as well as revenues. GAAP earnings mean that things such as continual pr costs and pay for insiders are not one time costs that don't matter. They matter. A barrage of pr can mask the lack of GAAP earnings for awhile, but within a few years it's obvious when costs that occur quarter after quarter are really continuing costs and it's no long time to "kick the can down the road."
There could be rumors and exaggeration from unnamed sources and emphasis of revenue that doesn't fall to the bottom line. There could be massive insider "equity awards" and consistent insider selling of such stock at market prices. There could be exaggerations and presentation errors that favor insiders. At some point, errors including repeating erroneous or questionable numbers or words will lose public support. Also, it's obvious when errors such as posting repeatedly an "ask" price as a traded price where a stock never traded emphasize carelessness at best and may be interpreted by the public as manipulation.
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BIIB - no, none of those things apply to BIIB. They have excellent earnings, and they are a "deep-pocket" competitor in the biotech-pharma-drug-development game. (Giants like Merck, J&J, et alia. have been Resting-In-Place for a decade; they are buying drugs, not inventing them.) (Which works just fine for them. Wouldn't be shocked to see BIIB acquired)
Speaking of which, BIIB is still a big gainer for me since Cramer got me interested three years ago. Luckily I took profits in December on most of it. IMO the haircut of -25% was overdone for an earnings estimate revision of about -6%, so I rebought last week at 302 and 307. They have a strong pipeline and a great track record.