The stock should be $3-$4
More panic selling for sure but then the real buyers who have done their home work will see the underlying value despite the horrible CEO et all
The assets of this company are very valuable. Granted there is also $295 million in LT DEBT.
He will partner with private equity and buy the entire company for $3 to $4 and restructure it and make a fortune.
He will not issue more shares at this price. Also the huge festivals happen in the next few weeks where they will make a ton of money. He will not borrow more money nut partner with private equity to buy back the entire company cheap and then restructure it and make a fortune.
He will buy the company for $3-$4 saving himself over $200 million from set upon bid
Those that were betting on a deal all sold when they saw the deal was not going to happen and $5.25 would not be seen. All the arbitradge guys lost and lost on Friday. Now the new players betting on another deal will bid the stock back up towards $4 the price a likely new buyer will step in.
The SGA expense is outlandish. I would love to see line items that make up 40 million a quarter. The company had a great revenue quarter but SGA wS TWICE gROSS PROFIT. I agree with you..expenses should have been matched to the revenues with advanced ticketing etc....there is no doubt the company overspends on salaries etc.
Nothing has changed but the stock price and that only fell because of Sillermans #$%$
that is just plain stupid
That is the $5.25 cent question...Live Nation????
They only say there was another bid for the company lower than $5.25 cents....something is up
artificially drive stock below $2..pathetic
pathetic...$3 bid in two months
dont hope....the game is over
That is how thieves and cowards handle business. Sillerman is slime and can not be trusted. He should be forced by the board to surrender half of his shares for incompetence and misleading behavior. He is responsible for the wealth destruction here.
Companies with bad news to disclose usually wait until friday afternoon after mkts close to release news. in this case it is almost a certainty that SFXE will announce some kind of restructuring..which in the short term will be harmful to shareholders.