The layoffs didn’t rescue the stock — they just slowed the decline. The stock price has essentially returned to where it was a decade ago. After acquiring a company two years back, the combined market cap now nearly equals the acquisition price. That’s just 🤣
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Once OpenText can prove they can grow organically, then the stock will go above $35. Otherwise it’s headed under $20.
Another play would be to get a huge new contract with the US or Canadian government… but don’t see that happening.
Welcome to the IT industry. Look at who the leaders were in the mid-90s.
In a quote from 2018, Jeff Bezos predicted that "one day Amazon will fail" and "Amazon will go bankrupt." He also stated that large companies typically have lifespans of 30-plus years, not 100-plus. This was a response to an employee's question about companies like Sears going bankrupt.
OpenText is like JCPenneys, still has some customers but not growing. Or like Yahoo an acquiring AOL. May make money in the short term but will fail in the long run.