I can just imagine Prof Galloway taking victory laps and talking about how the big dog is awesome !
https://www.profgalloway.com/wewtf-part-deux https://twitter.com/JordanBitterman/status/11765494016213483...
https://www.profgalloway.com/wewtf-part-deux https://twitter.com/JordanBitterman/status/11765494016213483...
>We will now need additional capital from the private markets, who are no longer under the influence
>We has gone from unicorn to distressed asset in 30 days.
>In just seven days, We lost more value than the three biggest losers in the S&P 500 have lost in the last year combined: Macy's, Nektar Therapeutics, and Kraft Heinz.
I have to pause each time and re-engage my brain to realize he is talking about the company and not himself.
I'm significantly enjoying the level to which this fiasco has made investors look like dolts. One can only hope that it does something to pierce the narrative about the possession of capital making people visionary
Super off topic but why the heck is Heinz losing so much value?
td;lr - Both kraft & heinz were slammed together by a company that bought them both out and then forced them to cut a ton of costs. As it turns out, you can't just cut costs and expect to grow and prosper as the market changes around you.
PS - in the article they mention they took away the free office snacks. Taking away perks like that is always a sign that you should head for the exits...