> Is this just a cash grab by the company that took them private?
Absolutely. My uninformed ex-Rackspace-employee take is that Apollo Global Management just wants to raise more money to further run the company into the ground.
Absolutely. My uninformed ex-Rackspace-employee take is that Apollo Global Management just wants to raise more money to further run the company into the ground.
Compare this to their most recently quarterly numbers in the S-1:
> For the three months ended March 31, 2020, we had revenue of $652.7 million, a net loss of $48.2 million
Yeah, they grew revenue by around 20% over 5 years, but there was an $84M swing into the red!
You'd have to have a hole in your head to trust these crooks. Unfortunately, most of us have no choice, the 401k market is rigged.
1: https://www.investing.com/equities/rackspace-hosting-income-...
Can you elaborate on this? How is it rigged exactly?
It's rigged in the sense that the banks know the stock is worthless, but if you grease the right palms, you get to IPO, and the money you receive from the IPO is not investors that believe in your company, it's the fund managers that are managing other people's money, and they don't care about fundamentals or sound investing. It's the political class siphoning money from the working class. Do you think Warren Buffet is going to participate in this IPO?