Worked for the company for many years and they are struggling partly because the company bought back billions of shares, at the expensive of many being layed off, just to enrich themselves. They can't make up the shortfall on wall street, even by laying 900 people off, so they WILL have to do more, probably even whole stores, which was already happening. Heard rumors the company is being sold to a private equity group, which is the reason for them buying shares.
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All these managers that thought they had all these valuable stocks, lol guess what it’s worthless. The managers would sit in the office looking at their stocks everyday to see how much they had instead of working on the floor like they were being paid to do! Now I check the stock daily and smile when I see what it closed at, I remember when it was 69 a share now 19.56 , well enough said.
It's all over for them.
Happening at just about every major corporation in America, in case you didn't know.
Now ask yourself why every corporation would purposefully commit suicide by blowing every penny on its own shares. Ultimately they will have to sell, and when they do, the shares have nowhere to go but down, so they will take enormous losses.
Dont think for one second the execs are so dumb they dont get this, of course they do. They're all looting the ship(s) before they sink.