Thoughts? Questions? I found it interesting that so much time was taken to explain why the stock price went down.
11 replies (most recent on top)
The whole thing was pathetic. Complete lack of gravitas. These internal webcasts are run more and more like a Punch and Judy show. Can you imagine that happening under Dudley?
200bn US valuation by 2030.
MA needs a longer nap I think, where exactly is the 2.5x growth coming from?
200B USD market cap in 2030 is nothing great. It would be less than value in 2005...TWENTY FIVE years earlier. (ignoring dividends and inflation)
Could have liquidated the company and rolled money proceeds over in t bills and you'd have better outcome
Note how unexcited the market was after the event. There's barely a pulse!
Hold on. MA said the company will be worth $200bn by 2030. He also said he wanted to “ki-l this company” although maybe the Canadian was lost in translation.
@ap+1jn3vfa7v By the sound of things, you should sell your BP shares and buy ones in Viagra!
At the same time this internal call was happening, news stories were being published that say the activist investor is ramping up pressure as bp’s plan “falls short”.
I love how we can't see each others questions for townhalls anymore.
Why hide that?
Waste of time. As employees we learned nothing. They are completely useless.
For years and years, bP execs claimed that our underlying performance was great and that the company was firing on all cylinders and that the markets would eventually understand and appreciate our performance and that the share price would be richly rewarded. Those vacuous monologues began when bP was worth ~ 200B USD and carried on as the company shed 70% of its market cap.
It was complete and utter stupidity...he spent so much time explaining how the stock went down because it would take diligent, long-term investors weeks or months to process the new strategy, compare their investment alternatives, and act upon their conclusions.
However, If bP stock had gone up yesterday, he would have cheered that the markets already love our new strategy.
He had a simple-minded response for whatever happened.