Absolutely right! And of course he's going to sell his shares if he's no longer on the board! They don't want his input, period. He SHOULD sell and go live his life. But that'll make the shares go to single digits! I'm amazed that they still have stores right across the street from each other! Seems like someone in the company had been opposed to closing redundant stores - Maybe Zimmer? In the short term, I'd be selling/shorting, let it hit bottom around 9 .
These shares aren't going to single digits, the dude doesn't even own that much, that's the whole point. He's been selling shares by the boatload for years and he just got outvoted by the people that have been buying the shares. It's 95% owned by mutual funds & institutions like hedge funds. If he sells his entire stake, they couldn't care less, they'll just buy him out.