Management is underestimating the long term implication of current damage to SP
Major incompetence by management and an unwillingness to seek councel from those who may have guided them through this short demolition. They must love taking it in the #$%$ and looking like a couple of monkeys. They let this happen and deserve what they get. Unfortunately the longs will be wiped out in the process.
3 simple steps that could have prevented this 3 quarters ago. 1. Stop burning cash like its firewood and giving shorts a bet on insolvency. 2. See step 1. 3. See step 2.
Oh, and how about laying off the hash brownies next conference call and avoid saying things like “The numbers just don’t look that bad”, when in fact with an adjusted burn rate they look really freaking good.
Lowering guidance was probably unnecessary and too conservative. Dropped the shareholders into a lower range that will be very difficult to get out of. Scared away future investors, which was capitulating to the shorts....part of going public should include a strategy to protect share price.