Carey has basically lied and given misinformation for the last several quarters resulting in big earnings misses.
One example last quarter was when he announced out of the blue that alcohol duties costs had increased 30%!
Like that regulatory change just happened overnight and he didn't see it coming?
With his track record of transparency failure and being highly "economical" with the truth and disappointing massively on earnings with poor lame excuses, it would take a lot of conviction and belief to hold once again.
Remember, investors invest on the guidance that he presents.
To blame an individual for not doing his due diligence is to rob Carey of his rightful accountablity for previous lies and half-truths..He has changed his excuses for failures from quarter to quarter. Read the last question and answer transcript from Seeking Alpha to see this is certainly true.
Trust this Ceo at your own peril!
You are wrong and have much to learn I'm afraid.
The only 'inflexion point' was for a new 52 week low.
Hope some listened and saved some potential losses here.
Not a fan of him myself Katie, but how many times can they fail in a row and if they do this can't go much lower IMO. Kaufman pulling out would do more damage than any miss, again just IMO. Good luck to you.
Firstly I want to express my empathy for the longs. We've all been there at one point. It's painful.
Secondly Carey is basically a borderline criminal except he wears the masquerade of a shirt and tie.
He is a complete fraud. Many hedge fund managers have been burnt by this scumbag.
So don't feel you are alone.
I did try to warn everyone that this CEO is bad news.
Thirdly I genuinely hope you all back any losses.
PPS was 7 bucks on the date of that post (10/11)
Unfortunately, it hasn't stopped dropping yet and the history of this stock in recent times has been that a miss has been accompanied by further fall in PPS after the earnings call.