has faced a $773,835,000.00 million dollar market cap loss due to an alledged 50,000,000.00 million dollar farmer pay out. Does anyone really think in todays society that a company was so nieve they would or could risk this behavior.
Rediculous! This was staged for a reason and both P&G and Diamond will somehow benifit from all this, watch and see. Drama always plays an important part in jusifing a spectacular out come.
I trully feel if there was any validity to the charges this would continue plummeting...funny it's not.
My take is RIGHTLY OR WRONGLY there is currently a lack of confidence in DMND management. It's not just the $50M. The question is have DMND's books accurately reflected its EARNINGS growth correctly. If the GROWTH of earnings turn out not to have been quite as good, that should, at least temporarily knock the wind out of DMND's sails (okay this has happened based on perceptions). Toss in the possibility that the Pringles deal does not get done and this just adds to the uncertainty. Note that the Pringles deal must close by 6/30 under the current agreement. A wild card is where will DMND be trading at this time, as DMND's share price affects the amount of DEBT DMND will assume as part of the deal. It would be a positive if both inquiries are completed sooner than later; of course, if either inquriy takes longer to complete, this would be a (temporary?) drag to the shares.