His purchase cost was 495k; today they are worth about 350k; a loss of 145k! Hallelujah!!!
8 replies (most recent on top)
Firstly it's a loss on paper but won't be an actual loss until he chooses to sell. Also he's rich and probably has tens of millions in assets.
A loss of $150k isn't going to seriously impact his financial position and he won't be losing any sleep over it.
Last year he sold $3m in stock, so I doubt he cares too much.
ML doesn't care he's got plenty of $/$ + share options + a final golden handshake even if he goes. he will keep executing his Analogue Swiss Watch to Casion Digital Watch plan even until a) he is removed b) retires c) company dives to a point where the remaining profitable assets / portfolios are sold on
I'd say he's feeling pretty good as he's loaded with cash and doesn't give two hoots about anyone else
You would have to prove Mike had insider knowledge (not disclosed the the public) that would give him an unfair advantage. Accountants and legal counsel cover those tracks well. They have to as they are audited and regulated quite tightly now, so the books have to be squeaky clean.
But in this case the shares tanked anyway as investors were ‘spooked’ by the company not being able to hit its own predictions (which they had already revised down once this year) and thus to be hit again impacted heavily upon investor confidence in the company , thus taking the share value through the floor, wiping $3 billion off the share price.
So the only way he makes money is if he believes that this blip in the revenue dynamic will pick up and return in September. Although the automatic predictions are now predicting a total crash by 2021 which is what computers do when faced with such a high variation in a matter of hours.
All the models have now gone Into the red rating dxc as a bad investment.
Take a look at the others. Accenture climbing consistently towards $200. Infosys, Cisco and the rest all doing better. But DXC still trying to cope with currency headwinds and a lack of digital leadership.
He doesn’t care because how many shares of stock to get for zero dollars Now we can sell the stock that he got for zero dollars and the stock he bought an offset the capital gains
Actually it was a very smart move on his account his account he knew the stock was going to fall months their earnings were announced.
When I don’t get is how this is not an insider trading I thought and I must be wrong with the people on the board can’t buy or sell stock with him so many weeks of age earnings announcement to the public
You missed the trick my friend, his steak cutter sold $2m worth when he bought a few peanuts.
It was a scam, it’s pocket change.
His plan has worked well. He is loosing a bit of money, this was the goal. He is showing he is loosing something, to not look suspect. Mikey has already saved a lot of million dollars, shadowed into fiscal heavens.
So, he is just anticipating the judge's question when he will be in jail.