To be frank, that’s a narrow view. MLX doesn’t represent all shareholders investment strategies — the Board exercises its judgement to act in the company’s best interests, with a focus on long-term value creation.
If they see an opportunity to secure a quality asset in a depressed market, it’s a logical move. When you run a successful cash flow positive company, you’re not thinking about the next month or quarter — you’re planning years ahead. What you see as risk or poor capital allocation, they likely view as a strategic opportunity to build long-term value and drive share price growth. Your time horizon and investment strategy just differs from theirs.
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