First the CFO, Kumar, bailed. I guess he saw the financial writing on the wall.
Now the VP of Engineering said he's outa there. Dennis Hollenbeck is moving on to a better leadership team someplace else. I can't say that I blame him. Maybe they were trying to force another thermostat down his throat.
Sooner or later, the board will be forced to fire the ones that REALLY need to go. That should happen at about $1.10 a share when debt has climbed to $20 million-LOL.
@Mark Tepper who says,"You are obviously trying to short this stock!"
If you are referring to me, I have not and will not short this or any other stock. It's not my trading style. In fact, only rarely will I even use an inverse ETF. I have also been forthright about my position in Enphase.
If you work for the company, be very careful pumping it here, particularly if you hold shares.
My ENPH analyses comment history here speaks for itself and I believe I have not gotten any numbers wrong, I was just wrong about my previous predictions about leaderships' performance and judgement.
I've looked at many a balance sheet and their cash burn is evidently unjustified, downright irresponsible and you know it to be true.
I started this thread more out of comedic observation than anything regarding the continued exodus of the original players. I wish I could do the exit interviews.
You can now (finally) expect to see token share buying by the usual suspects to attempt to buoy share price.
Remember, an 80% fall in share price requires a 500% increase in share price to recover. I suggest you re-read my thread on the future of Enphase.
Preserve your capital and always weigh the holding of Enphase with other available opportunities to invest that capital.
There is certainly a lot of turmoil in the company, and the turnover of VPs is a bad thing in more ways than one. Their recent news announcement of 3 new VPs was written as if it was a positive development, but it's not. Packages need to be paid out to the exiting VPs, then recruiting fees, signing bonuses, new option packages and fat salaries to the incoming VPs. They can hardly afford this in a time they should be drastically cutting expenses.
I agree with you, the board needs to make a move before it's too late.
All companies have turn over. Lets look at Apple. Huh, doesnt seem to hurt their long term strategy. My suggestion is that you stop trying to scare people and start thinking about covering you short sell!!!!!!!!