To reiterate, the unbelievable arrogance of this management team. Investor relations owe an honest explanation to its investors. This company wasn't "broken" in 2008-2009 and did not need an overhaul that has literally cost millions and changed the face of this company forever. Double the executive suite, switch everything around and what do you get? nothing but an inflated SG&A and lots of unhappy investors, employees and former employees and their familys.
Shorts learned a lesson a few qtrs ago when WAG surprised to the upside by buying back most of a 3 year allotment of authorized repurchase shares in one qtr to kite EPS by reducing the sh # outstanding. That was @ $30.
Nothing illegal about doing this, but it was a gambit that I bet hedgies will not soon forgive or forget. It also demonstrated that WAG management can get quite cute to shuffle the deck when they get cornered by bad news.
I would not short or buy this equity until the ESRX matter gains clarity. It's like playing red or black in roulette and praying 0 & 00 don't come up, until that occurs.
Whatever the strategy, it is not working so far. I am sure it looks great on paper just like; ink refill, western union, cafe w, athletic clothing line, WHI, power, Walgreen credit card, takecare clinics, DSL service and other projects people never heard of.