the stock price is going to the toilet after the earning call, will more layoffs be coming?
6 replies (most recent on top)
Mark B should panic, but his overconfidence and narcissism are his greatest weaknesses. If I owned that stock, I'd sell it on the bump tomorrow if it does bump. The only way he's able to generate any decent cash flow is buying selling Legacy BUs to other companies- see Mainframe BU. If the board doesn't cut him loose to retire to feed trough, and re-invest in their products- like a real technology company, then it's over. I do not think this will happen. The board is as complacent as the Micro Focus board was, and we see how that turned out. Good luck and good riddance!
I don't see how more layoffs can be avoided. Even when times are good there are layoffs due to constant 'restructuring'.
This guy's group (Smart Emereonye) has done extremely bad job leading to hacking of multiple banks ( BOA, Citibank, US Bank, 53Bank, Capital One), yet he was not fired? Time to call Mark to terminate him ASAP. https://www.linkedin.com/in/smartae
It's not about the stock for a single day. It's down 50% over the past year when the market hit record highs. If that doesn't show failure I don't know what does.
Mark is cooked a number of shareholders have approached the board demanding change. Especially on his FY25 call he proclaimed he has enrolled in a building design course to challenge him. His challenge is run the company it’s beyond belief why he is still there. Also selling 16mill of personal stock wasn’t a great move……
Tech stocks in general tanked today, so OpenText isn’t unique in that regard. Let’s just hope Mark B doesn’t panic.