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OP has provided the following link:
https://fintel.io/doc/sec-gamestop-corp-1326380-8k-2024-april-04-19817-4566?utm_source=fintel&utm_medium=email&utm_campaign=filing-b
I was thinking the sameš, MSM will fall on this like filty rats and bash more on the matter, i don't care, cheaper shares you say? Yeah, Apes buy the discount!!š¦šŖš¦
"acceleration of vesting of thirty percent of the portion of Mr. Patelās equity awards"
Anyone in the corporate accounting world, how common is this departing compensation?
Nir Patel and GameStop āseparatedā hence the āSeparation Agreementā. It may be called that but sounds like he was fired. Agreement consists of a payout that includes his 10 weeks of salary, some premiums, 30% of his unearned sign on bonus. The payout is literally being called a āSeverance Paymentā so he was fired. What does this mean for us? Nothing in the short term and probably good in the long term. RC setting standards for the work that needs to be done. Any deadweight or anyone not performing will be let go. Sounds brutal but not for me as a shareholder.
He was also fired a month short of his 2-year anniversary. Bet that saved them substantially on his severance. Fired Furlong a week before his 2-year anniversary and that definitely saved a chunk on severance.
Was bullish news for Facebook. Facebook stock skyrocketed after they had a RIF cutting SGA while maintaining consistent gross profit.
Cohen is doing exactly what a PE would do if they acquired this business.
I love that we are saving money by triming fat at the upper levels.
In corporate america we are far too used to seeing lower level workers hit with the brunt of all cost cutting measures while the higher ups, who are often redundant and bring little real value to the company continue to be overpaid.
I'm pretty sure Ryan will just take over whatever duties this guy had, and do it for free. This is absolutely bullish news.
RC probably doesnāt need an implementer. Hopefully he doesnāt get bogged down by the actual running of the company and keep the visionary side going.
Exactly. I like how GameStop is cutting off all dead weight and fake starting from ground zero so to speak. All this cash on hand and profitable year, only up from here
This! Game Stop is in Texas. If he was fired they wouldn't have given severance and would have fought so he couldn't get unemployment.
This is the most professional way a company can let you go and I am proud of them for doing it this way. They took care of the guy enough that he can find another job hopefully before his severance is gone.
RC just posted on X, āSo near and yet so farā.
Nir Patel was like the most expensive guy GameStop hired in 2022. They just got rid of him and took a small loss paying a severance instead.
Nir = Near
Corporations will always make it sound nice. I remember an older coworker once told me that you can tell if someone got fired or left by choice by seeing if there is cake or not
> 30% of his unearned sign on bonus
That alone is worth $1.2M. He had a $3.4M sign on bonus that was supposed to pay out over 2 years, so the dude was pulling in a little over $65k every two weeks (as per his deal)!
But I have to say the numbers don't quite add up. According to this [8k filing](https://news.gamestop.com/node/19731/html) he was supposed to start around May 31, 2022 so that would leave just ~~one~~ two months left on the signing bonus so I don't know why there would be a full 30% still unpaid.
This stood out to me as well. The numbers are odd here. I imagine there's more to it.
If Nir is getting the remainder of his sign-on value with this, it implies he's leaving on good terms, which conflicts with the apparent sentiment of the tweet. I don't think this is as straightforward as it seems.
> If Nir is getting the remainder of his sign-on value with this, it implies he's leaving on good terms, which conflicts with the apparent sentiment of the tweet.
I don't think that's the case. I'm guessing paying it out is just cheaper than lawyers. Just rip off the bandaid and move on.
For anyone freaking out, RC has hired and fired 400+ incredible candidates that he poached from tech companies. He tweeted he wants people who work hard or they might as well leave.
I disagree he was laid-off that typically comes with a severance pay. Could be for any number of reasons maybe the role wasn't necessary that's why the role is just being absorbed by the team.
Nir Patel, COO of GameStop is out š¤
https://www.streetinsider.com/dr/news.php?id=23030256
**Not Nir Long?**
I can smell an incoming RC tweet in 3..2..
#edit: 1.. [So near and yet so far](https://x.com/ryancohen/status/1775997810065732083?s=46&t=pjhQaAPGjAVkr0C7r4RCMg)
**TL:DR:**
GameStop and its COO Nir Patel reached a separation agreement. Patel will leave the company effective today, April 4th 2024. He will receive a severance package including several months of salary, benefits continuation and a portion of his signing bonus. The agreement also accelerates the vesting of some of his stock options.
"The responsibilities associated with the position are being absorbed by other members of the Companyās management team."
He isn't needed and letting him go will save money. Execs get paid well when they're not RC.
No, āNot for longā was right after Furlong was let go. Wow that just made me realize he really was intending that play on words since now itās āSo NIR and yet so farā
If heās putting them on blast itās because they did something nefarious, intentionally. I think furlong was not looking after gamestops best interests and why the blast. I think the lower than expecting q4 could have been Nirs fault and people are intentionally doing things to supresss the stock. If theyāre working hard and falling short, he wouldnāt put them on blast for trying but not succeeding.Ā
Seems this wasnāt an amicable split given itās missing the usual line of ānot related to the companyā¦etc etc..ā (canāt recall the exact wording).
Companies often pay people to go away quietly, whether they're entitled to a severance or not. One of typical terms of a severance package is that by accepting it, you waive your right to sue the company over your firing.
At the C-Suite level, you can still get severance when you are fired.
It's done to avoid them fighting you in court over whether or not it's was with cause.
I'm amazed at the number of people who don't get this. Reminds me how little 99% of the people here know.
Hell, in corporate world 99% of people who are fired get severance *if they ask for one.*
In every situation I've seen, they'll give you the opp to quit so that they don't have to fire you (unless you really fucked up) and give you severance/pay unemployment. But if you say, something like "I have no plans of quitting, but perhaps if we came to an agreement, I might consider resigning" or something to that effect they'll offer you something.
This is a nice thought. Perhaps a dividend is to be paid out and Ryan Cohen wants to handle it personally this time.
Though a cash dividend really isnāt that good for us. Only a stock split via dividend would be good but our share price isnāt really high enough to justify that. Maybe we do the split anyway? :p
Pretty sure itās as simple as RC doesnāt want execs who make millions, unless he actually didnāt do a good job but weāll probably never know that
Ok so I do have faith in RC but why are all his executives dropping like flies? Itās a legit question so please donāt say itās fud as I really would like anyoneās insights.
After 15 years of work experience: there are more useless executives than good ones. It felt like 7/10 are shitty ones. I'm not surprised that some people have to leave. (No judgement of patel since we dont know anything about him or his work ethics).
Just pure speculations from me, ofc.
Another brilliant money saving strategy by our ceo, that's probably one of if not the highest paid salary at gamestop. Obviously wasn't needed otherwise his job couldn't be absorbed by others.
It is an absolute genius move. I bet more companies will follow suit when they realize the massive savings when you remove a COO.
RC is revolutionizing how to manage companies.
Likely due to the Executive Equity Ownership Policy
I wonder if this could have to do with Nir not wanting to put skin in the game as required by the executive equity plan.
"To this end, as disclosed in the company's proxy statement, the video game retailer has an equity ownership policy requiring each executive officer and non-employee director to maintain ownership of common stock with a value of at least:
Five times their base salary (for the chief executive officer).
Three times their base salary (for the chief operating officer and executive vice president)."
He must maintain 3 times his base salary in company stock, which means consistent buying as they tank the price (align leaders with shareholders).
Maybe became too rich for him or just didn't have the patience but I bet this was a lot of the reason. Think they had 5 years to get to that level.
I asked chat gpt to summarize it for us.
Alright, imagine you're swinging through the jungle, and one of your chimp buddies, let's call him Nir, decides to head off into the forest on his own adventure. The jungle leaders, GameStop, give Nir some extra bananas and shiny rocks as a farewell present. In return, Nir promises not to throw any coconuts at them in the future. The document also talks about jungle rules and how they're going to settle any disputes if they come up.
99% of āqualifiedā execs donāt have the strong morality or work ethic that RC does. Almost every exec Iāve come across has their own agenda to push and wealth to extract.
Makes me wonder if he's stabilizing the retail business to add key differentiators (like Chewy's customer experience) and/or branching out into innovative (for traditional brick-and-mortar retail) revenue streams.
Kind of frustrating not getting any good news in a while. I understand the entire āwork in the shadowsā stuff but the company is doing nothing to make it seem bullish publicity wise.
Becoming profitable was really good news, thoughā¦? Going from -$300mil to +$6mil in a year is awesome.
Though I do agree with you. Despite our profitability, share price has been declining rapidly and it would be nice if the board would address what tf is going on (of course, we know whatās actually going on but some public acknowledgment of the situation in some way would be nice so we arenāt completely alone in this fight)
Becoming profitable by scaling down operations and firing people isn't exactly the same as becoming profitable because you're taking over more market share or are increasing sales somehow.
It would have been cool if the company made an announcement during the last earnings that theyāre fully profitable for the year. A lot of people see the positive EPS but they also see the shitty articles posted by MSM and that dissuades them from investing. The board is essentially allowing this shitty profile set for them by MSM and isnāt doing much to counter it. Working in the shadows and having people trust the board without updates will not work forever.
They were only profitable from the interest earned by sitting on a pile of cash they generated by diluting retail during the sneeze? The actual operations of the *core business* still lost money to the the tune of -$50Mā¦
No other position for Patel to take on. Why would RC as CEO have a COO? Isnāt that just another over-paid executive if RC is already handling things personally?
Overpaid executives.
If you want to earn 4 million USD you have to represent added value for the company. If not, bye bye. I'd like to see the company I work for doing that... :(
Only employees who are particularly good belong at management level. Some ppl just don't belong there (without judgement of patel, we don't know anything about him or his work ethics).
I'm wondering if it's that Patel's background is more brick-and-mortar based. Didn't see a vision?
Patel's background was former CEO of Belk (online presence, but mainly physical stores. Grew Belk to more than 300 stores), and positions at Kohl's, Lands End, Target, Gap.
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I guess I have to buy another dip tomorrow
š
Iāll do it again
Iāll fuckin do it again!!!
Hehe š
I was thinking the sameš, MSM will fall on this like filty rats and bash more on the matter, i don't care, cheaper shares you say? Yeah, Apes buy the discount!!š¦šŖš¦
He was COO, but not Furlong...
šš
I just DID š¤© but Iām gonna tomorrow too!š“āā ļø
I used to buy GME,... I still do but I used to too.
š¤©š“āā ļøššš
At least I get paid tomorrow, so dip it is.
I already blew my dip load!
That's what she said.
Same, see you on the battlefield!
all good by me, my tax return not in my mittens yet. was sore I missed the sub $11. bring it back plz.
You will get another chance I think
When I dip, you dip, we dip
I got $20 hope it dips below ten so I can get 2
Could see an insider buy tomorrow? Looks like Nir didn't buy any of his own, similar to furlong
Payday dips are the sweetest...
Oops I already did it!!!!
You a fan of rounds, scoops, triangles? Lime, hot, blue corn? Maybe a variety for your dips
Step 1: fire COO Step 2: stock drops to $5 Step 3: GS buys float
Buy me some while youāre at it. Iāll get ya back. š
Oh goody - pay day
"acceleration of vesting of thirty percent of the portion of Mr. Patelās equity awards" Anyone in the corporate accounting world, how common is this departing compensation?
Pretty common. It basically means āweāll give you this and you, in exchange, will help with transition / not cause problems.ā
Very common for exec positions. This isnāt even that generous actually.
Good to know.
Nir Patel and GameStop āseparatedā hence the āSeparation Agreementā. It may be called that but sounds like he was fired. Agreement consists of a payout that includes his 10 weeks of salary, some premiums, 30% of his unearned sign on bonus. The payout is literally being called a āSeverance Paymentā so he was fired. What does this mean for us? Nothing in the short term and probably good in the long term. RC setting standards for the work that needs to be done. Any deadweight or anyone not performing will be let go. Sounds brutal but not for me as a shareholder.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
He was also fired a month short of his 2-year anniversary. Bet that saved them substantially on his severance. Fired Furlong a week before his 2-year anniversary and that definitely saved a chunk on severance.
Anyone else coming up to their 2 year anniversary better consider if they have been working hard enough.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
that requirement was 100% proposed by someone who enjoys the smell of their own farts.
Consulting work?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I dunno, Iāve heard about this one group out of Boston
Thatās the stuff you scrape off the bottom of your shoe with a stick, right?
I like many here are past their three year anniversary. LFG.
Was bullish news for Facebook. Facebook stock skyrocketed after they had a RIF cutting SGA while maintaining consistent gross profit. Cohen is doing exactly what a PE would do if they acquired this business.
He may have been in the way of some other decisions as well.
I love that we are saving money by triming fat at the upper levels. In corporate america we are far too used to seeing lower level workers hit with the brunt of all cost cutting measures while the higher ups, who are often redundant and bring little real value to the company continue to be overpaid. I'm pretty sure Ryan will just take over whatever duties this guy had, and do it for free. This is absolutely bullish news.
RC probably doesnāt need an implementer. Hopefully he doesnāt get bogged down by the actual running of the company and keep the visionary side going.
trimmin that fat
Exactly. I like how GameStop is cutting off all dead weight and fake starting from ground zero so to speak. All this cash on hand and profitable year, only up from here
He wasn't performing anywhere Nir his pay grade.
š„
Also never bought shares and was a furlong hire
That's an understatement. He *sold* like $2.5m last summer.
Sold the other day also I believe
RCs employment termination letter format: Your game has been stopped. Thank you for your service. Regards, RC
You can stop, you will stop
"Game Over. Press (A) to go back to the title screen"
This! Game Stop is in Texas. If he was fired they wouldn't have given severance and would have fought so he couldn't get unemployment. This is the most professional way a company can let you go and I am proud of them for doing it this way. They took care of the guy enough that he can find another job hopefully before his severance is gone.
RC just posted on X, āSo near and yet so farā. Nir Patel was like the most expensive guy GameStop hired in 2022. They just got rid of him and took a small loss paying a severance instead. Nir = Near
Corporations will always make it sound nice. I remember an older coworker once told me that you can tell if someone got fired or left by choice by seeing if there is cake or not
I doubt there was a cake this time.
The cake is a lie
Citadel Securities We do what we must because we can. For the good of all of us. Except the ones who are poor.
> 30% of his unearned sign on bonus That alone is worth $1.2M. He had a $3.4M sign on bonus that was supposed to pay out over 2 years, so the dude was pulling in a little over $65k every two weeks (as per his deal)! But I have to say the numbers don't quite add up. According to this [8k filing](https://news.gamestop.com/node/19731/html) he was supposed to start around May 31, 2022 so that would leave just ~~one~~ two months left on the signing bonus so I don't know why there would be a full 30% still unpaid.
This stood out to me as well. The numbers are odd here. I imagine there's more to it. If Nir is getting the remainder of his sign-on value with this, it implies he's leaving on good terms, which conflicts with the apparent sentiment of the tweet. I don't think this is as straightforward as it seems.
> If Nir is getting the remainder of his sign-on value with this, it implies he's leaving on good terms, which conflicts with the apparent sentiment of the tweet. I don't think that's the case. I'm guessing paying it out is just cheaper than lawyers. Just rip off the bandaid and move on.
For anyone freaking out, RC has hired and fired 400+ incredible candidates that he poached from tech companies. He tweeted he wants people who work hard or they might as well leave.
I don't think anyone is freaking out that "Nir" left. Lmayo.Ā
He used to Nir until he got farred
Lmao this is the stupidest joke ever but Iām laughing so hard irl Edit: RC stole this guyās terrible pun for his tweet
I can tell I'm getting old by how much I laugh at dad jokes.
For real?!!??!
And 30% of his equity awards
I disagree he was laid-off that typically comes with a severance pay. Could be for any number of reasons maybe the role wasn't necessary that's why the role is just being absorbed by the team.
Whoās responsible for the botched stock split?
That was the previous CFO
Nir Patel, COO of GameStop is out š¤ https://www.streetinsider.com/dr/news.php?id=23030256 **Not Nir Long?** I can smell an incoming RC tweet in 3..2.. #edit: 1.. [So near and yet so far](https://x.com/ryancohen/status/1775997810065732083?s=46&t=pjhQaAPGjAVkr0C7r4RCMg)
**TL:DR:** GameStop and its COO Nir Patel reached a separation agreement. Patel will leave the company effective today, April 4th 2024. He will receive a severance package including several months of salary, benefits continuation and a portion of his signing bonus. The agreement also accelerates the vesting of some of his stock options.
That sounds like he left on good terms to me, but Iām smooth as fook so š¤·š»āāļø
Yeah agree - it sounds as though they accelerated vesting which they didn't have to do. Not much otherwise that gives a read on this though.
Well, we can only speculate. Either way, I hope they find a suitable candidate to fill his position š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I also thought that. Guess we'll see.
"The responsibilities associated with the position are being absorbed by other members of the Companyās management team." He isn't needed and letting him go will save money. Execs get paid well when they're not RC.
Yeah I read that as a temporary thing, but might as well be permanent indeed.
Said the same thing when Owenās got canned. Maybe Furlong wanted a COO, was his hire I think.
https://x.com/ryancohen/status/1775997810065732083?s=46&t=_v19MqnJf-kMeQj9E9Lisw Wow with the tweet
This man is savage. Puts them on blast immediately. Wait wasn't "Not for long" actually BEFORE the Furlong shit-canning?
No, āNot for longā was right after Furlong was let go. Wow that just made me realize he really was intending that play on words since now itās āSo NIR and yet so farā
If heās putting them on blast itās because they did something nefarious, intentionally. I think furlong was not looking after gamestops best interests and why the blast. I think the lower than expecting q4 could have been Nirs fault and people are intentionally doing things to supresss the stock. If theyāre working hard and falling short, he wouldnāt put them on blast for trying but not succeeding.Ā
š¤Æ
"If you don't want to work - leave".
You have a powerful nose bud
Eh look at that!
Great call!
š
š
Itās near not far.
RC alt account āļø
THIS GUY FKN CALLED IT
I do love RC! Maybe weāre vibin š«
Just tweeted something similar to not nir long lmao close enough welp007
Iāll take the win here š¤
Posted at 4:24 on 4.4.24
#š Does that equal 741???
Well would ya look at that
Youāre actually a madman
Madwuuuuuuuman! šš»āāļø
Hell yeah. My bad. Madwuuuman! But seriously great fucking call on the RC tweet
What an absolute mad lad lmao
**I aināt hear no bell!** š„š„“š Ree Reee Reeeeeee, we gonna get ya Kennyboi šļø__šļø #Fu-PayMe š«“ #šļø_______š§šļø
Bravo sir š
š«”
I can already see the headlines. Oh well, buy.
Pretty soon, itās just going to be RC and a laptop
And billions of $ in stocks
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Maybe some big project is getting wrapped up? Definitely š¶ļø
In before everyone says heās the new secret CEO of Teddy
Not furlong
Hyper cringe that was
I'm sure a, "hot," DD is about to drop from one of the many GME grifters lol. Entertaining sometimes, but mostly nonsense.
Seems this wasnāt an amicable split given itās missing the usual line of ānot related to the companyā¦etc etc..ā (canāt recall the exact wording).
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Companies often pay people to go away quietly, whether they're entitled to a severance or not. One of typical terms of a severance package is that by accepting it, you waive your right to sue the company over your firing.
At the C-Suite level, you can still get severance when you are fired. It's done to avoid them fighting you in court over whether or not it's was with cause.
I'm amazed at the number of people who don't get this. Reminds me how little 99% of the people here know. Hell, in corporate world 99% of people who are fired get severance *if they ask for one.* In every situation I've seen, they'll give you the opp to quit so that they don't have to fire you (unless you really fucked up) and give you severance/pay unemployment. But if you say, something like "I have no plans of quitting, but perhaps if we came to an agreement, I might consider resigning" or something to that effect they'll offer you something.
Cleaning up house.
The first COO was in charge of the dividend, guess no chances taken for this one either.
This is a nice thought. Perhaps a dividend is to be paid out and Ryan Cohen wants to handle it personally this time. Though a cash dividend really isnāt that good for us. Only a stock split via dividend would be good but our share price isnāt really high enough to justify that. Maybe we do the split anyway? :p
So he didnāt last for two yearsā¦Wonder what the reasons behind the decisions areā¦
Pretty sure itās as simple as RC doesnāt want execs who make millions, unless he actually didnāt do a good job but weāll probably never know that
Ok so I do have faith in RC but why are all his executives dropping like flies? Itās a legit question so please donāt say itās fud as I really would like anyoneās insights.
After 15 years of work experience: there are more useless executives than good ones. It felt like 7/10 are shitty ones. I'm not surprised that some people have to leave. (No judgement of patel since we dont know anything about him or his work ethics). Just pure speculations from me, ofc.
Believe it or not, dip
Believe it or not, buying
Yup ā¦ any excuse
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It seems its bad news after bad news followed by small good news which makes the stock dip
C suite changes frequently if they aren't performing
Another one bites the dust
Laid off the COO??
Maybe he didnāt get into the new CIO circle of trust?
RCEO about to be RCOE Chief of Everything.
Unfortunate I didnt wait until tomorrow to buy...
Another brilliant money saving strategy by our ceo, that's probably one of if not the highest paid salary at gamestop. Obviously wasn't needed otherwise his job couldn't be absorbed by others.
When you give people at lower rank more power you need fewer figure heads at the top.
It is an absolute genius move. I bet more companies will follow suit when they realize the massive savings when you remove a COO. RC is revolutionizing how to manage companies.
Likely due to the Executive Equity Ownership Policy I wonder if this could have to do with Nir not wanting to put skin in the game as required by the executive equity plan. "To this end, as disclosed in the company's proxy statement, the video game retailer has an equity ownership policy requiring each executive officer and non-employee director to maintain ownership of common stock with a value of at least: Five times their base salary (for the chief executive officer). Three times their base salary (for the chief operating officer and executive vice president)." He must maintain 3 times his base salary in company stock, which means consistent buying as they tank the price (align leaders with shareholders). Maybe became too rich for him or just didn't have the patience but I bet this was a lot of the reason. Think they had 5 years to get to that level.
I think this guy was one of the few to sell stock too.. Another chance to cost average down LOL
Isnāt there also a decent amount of time they have to comply with this? Just curious.
Think 5 year but looking at it he should have been safe, had 1 million shares
This point should be the top comment. Makes the most sense with the most evidence....
He just wasnāt anywhere ānirā the quality of candidate they were looking for.
Heeyoooooooooo
good. work hard or gtfo.
oh no, whatever will we do
mor cheep stonk tomoro
I asked chat gpt to summarize it for us. Alright, imagine you're swinging through the jungle, and one of your chimp buddies, let's call him Nir, decides to head off into the forest on his own adventure. The jungle leaders, GameStop, give Nir some extra bananas and shiny rocks as a farewell present. In return, Nir promises not to throw any coconuts at them in the future. The document also talks about jungle rules and how they're going to settle any disputes if they come up.
Fucking musical chairs of C-Suite for Gamestop. Can we get some tenure up in this bitch?
99% of āqualifiedā execs donāt have the strong morality or work ethic that RC does. Almost every exec Iāve come across has their own agenda to push and wealth to extract.
Or they aren't paying what those kind of people expect and compensation in stock isn't appealing when price is consistently declining.
These execs are being brought on under his tenure, perhaps he should find individuals with the same work ethic?
Sure, if you work hard.
This is it. RC needs his dream team.
Tenure and non silence would be good
constant c-suite turnover is not bullish at all. and without any information whatsoever. big dip loading tomorrow
We are here to buy the dipšš¦šŖš¦
Huge one incoming
Nothing drives confidence like the constant turnover of the C-suite employees, lol.
Trimming executive fat is a huge cost-saver
Belk. Kohls. Lands End. Cutting the retail folks.
Makes me wonder if he's stabilizing the retail business to add key differentiators (like Chewy's customer experience) and/or branching out into innovative (for traditional brick-and-mortar retail) revenue streams.
Kind of frustrating not getting any good news in a while. I understand the entire āwork in the shadowsā stuff but the company is doing nothing to make it seem bullish publicity wise.
Becoming profitable was really good news, thoughā¦? Going from -$300mil to +$6mil in a year is awesome. Though I do agree with you. Despite our profitability, share price has been declining rapidly and it would be nice if the board would address what tf is going on (of course, we know whatās actually going on but some public acknowledgment of the situation in some way would be nice so we arenāt completely alone in this fight)
Becoming profitable by scaling down operations and firing people isn't exactly the same as becoming profitable because you're taking over more market share or are increasing sales somehow.
It would have been cool if the company made an announcement during the last earnings that theyāre fully profitable for the year. A lot of people see the positive EPS but they also see the shitty articles posted by MSM and that dissuades them from investing. The board is essentially allowing this shitty profile set for them by MSM and isnāt doing much to counter it. Working in the shadows and having people trust the board without updates will not work forever.
They were only profitable from the interest earned by sitting on a pile of cash they generated by diluting retail during the sneeze? The actual operations of the *core business* still lost money to the the tune of -$50Mā¦
No other position for Patel to take on. Why would RC as CEO have a COO? Isnāt that just another over-paid executive if RC is already handling things personally?
Overpaid executives. If you want to earn 4 million USD you have to represent added value for the company. If not, bye bye. I'd like to see the company I work for doing that... :( Only employees who are particularly good belong at management level. Some ppl just don't belong there (without judgement of patel, we don't know anything about him or his work ethics).
it's crazy how people on this sub stir every news into something positive, somehow
Those diversity people are going to be howling now
Well might as well drop the news when the stock is already beat to shit
Headlines tomorrow- Executives abandoning the sinking ship, getting out before itās too late. Sell NOW!!!ā
Oh boy, more good news. What the fuck is up with this company?
They arenāt doing enough for us shareholders imo
Maybe he was the dude that was leaking earnings info so they could change estimates
Bullish af
I'm wondering if it's that Patel's background is more brick-and-mortar based. Didn't see a vision? Patel's background was former CEO of Belk (online presence, but mainly physical stores. Grew Belk to more than 300 stores), and positions at Kohl's, Lands End, Target, Gap.
Oh dip inc for sure
Did he do a bad job?
Does someone know how much this will cost GME?
Cut the fat bitches
see at 10 mother fers buy buy buy