The Board have tripped over their own door matts. The market has just taught them a big lesson. I wonder if they are smart enough to learn?
1. Do not take on more than you can chew even if you have been a fast chewer in the past. 2. Do not propose massive dilution unless you can show how the move is accretive for shareholders. 3. Do not change strategic planning mid stream and capsize the boat. 4. Do not make market moves that provide an open invite to the professional shorters unless you have the backers to support the share price. 5. Do not throw a dead cat on the table and then leave it to stink up the place. It might bounce once but all that is left behind is a stinky mess.
After watching this debacle and seeing the blue sky fill up with storm clouds I have changed my sentiment radically. Management is the most important fundamental factor to consider and the hardest to value. IMHO the management of BET have dimished their value after this tripp up. Maybe the Midas touch has an adverse effect on capital management ability?
The shorting vultures won't let go of this carcass for some time IMHO. The next announcement better be rock solid and highly accretive or else it is watch chunder below.
Cheers
BET Price at posting:
$1.04 Sentiment: Sell Disclosure: Not Held
