Weatherford International Plc (NYSE: WFT)'s business is left severely impaired after two decades of mismanagement, poor execution and a culture unaccustomed to accountability, a Barclays analyst said.
The price target has been slashed from 6 to 3.50
Smells like bankruptcy, it might even be time to sell off that POS Jag left behind from the guy who got us in this mess.
See that they have had some more Senior US Managers from the Production group leave in the last couple of weeks.
For the rank and file, if you can't see what is coming take a lessen and watch what is going on. If your boss or your bosses boss is up and moving to a new company in the same line of business and it is more than one doing it, well something is up. They have visibility to the P&L, Inventory and fight the day to day on getting what is needed to run the business, if they are giving up and going to greener fields you better ask if you can go as well.
Folks this mess is heading down the sewer quicker than a runaway express train. Better to jump off now than to wait for the wreck when the sh-- hits the fan.
Leave now! I just quit after 10 years and I can tell you company will not exist by 4th quarter 2018. There is not a more corrupt, inept company in the world.
Too late for buyers remorse.
If you're lucky. I'd sell now and take the loss.
So the best I can look to recover is $3.50 when I bought in at twice that?