Mattel issue weak guidance for 2019. Stock is fluctuating between -16% to -18% for the day.
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Ynon is either a scumbag or a mo--n for pulling a move like this investors. He fits in perfect with the Mattel culture. SEC should investigate.
Pretty deceitful move to pull on your investors, especially after all they've been through in the past five years. Way to squander any recently established good will. SMDH.
https://globenewswire.com/news-release/2019/02/16/1733525/0/en/Bragar-Eagel-Squire-P-C-is-Investigating-Mattel-Inc-MAT-on-Behalf-of-Stockholders-and-Encourages-MAT-Investors-to-Contact-the-Firm.html
Somewhat refreshing that financial professionals showed a lack of confidence in Mattel 2019 financial projections. That the folks on top of the pyramid feel the stress . They will profit personally but hopefully stay awake a night as the investment industry tells them they are full of it. So many years of poor leaders and so many execs promoted beyond their capabilities. Yesterday’s blood bath on the stock is proof of this.
A professional operations leader leaves and is replaced by some who’s never designed built or shipped a product. Makes sense as procurement is now run by a product developer who was supposed to leave last year.
JE said “multiyear turnaround.” Longest multiyear turnaround ever...
It’s a two-brand company now: Barbie and Hot Wheels. Everything else is losing money. Q4 results were still pretty bad if you look past the growth in those two brands. Several years of falling sales will not suddenly reverse course in 1-2 quarters. Revenue is still down from 6.x billion to 4.x billion.
Mattel is also way late to the tv/movie space, even if those announcements are anything more material than typical Mattel vaporware. Ironically we were pioneers in the 80s with MOU but that’s ancient history now.
Hahahahahahaha!
Mattel Inc. MAT, -18.27% shares dove more than 16% late in Friday's trading session after the toy maker revealed that sales would remain flat this year. In a presentation, Chief Financial Officer Joseph Euteneuer said that sales would remain flat in constant currency this year, which was called a "significant improvement" for the company, which has struggled of late. The forecast said that the American Girl line would continue to decline as the company entered a multiyear turnaround plan for the dolls, while a decline in Thomas the Train Engine toys should at least decelerate. Barbie and Hot Wheels toys are expected to grow, while Fisher-Price is expected to stabilize by the end of the year, the presentation claimed. Mattel also said it was looking to transition to a "capital-light" manufacturing plan in 2019, which should begin to pay off in 2020. Mattel's stock was headed toward its biggest one-day percentage loss since Jan. 26, 2017, when it declined more than 17%. Mattel shares had been enjoying a rebound so far this year, rising 43.7% as the S&P 500 index SPX, +1.09% gained 9.5%.
I thought the stock went way up last week, what happened? Why the drop?