Larry sold $11.5 million worth of stock (avg share worth $69) 1/10/19... stock drops ($5 so far today...$63 a share) on earnings report 2/19/19!
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Hang in there like you have been doing, they really love you and would never let anything bad happen to you. Keep working like dogs that you are!
The company is definitely in trouble. There has been a bubble growing within CVS through the several mergers and monopolies that have occurred within the last 10 years or so. To create this image of innovation, they have had to continue down this route. The Aetna merger was a move of desperation as stocks were falling (read into the low leverage of power on CVS’s negotiating sell price of the deal.)
CVS made the Aetna deal in response to a threat to Obama care (in which CVS created a business model around) through the election of Trump.
Also, two of the mergers biggest critics are running for office in 2020, and If one of them ones, it will most definitely hurt their business model further.
Larry cashes 10-15 million out every January. This is not new.
Colleagues need to exercise stock options every 3 years goes for all levels. Wouldn’t think much of it. Would’ve been smarter to sell at closer to the 80 dollar mark. Company isn’t in trouble l. Though brick in motor colleagues should revise their resumes and start finding a better career. Company wants to be profitable so more store cuts coming soon.
So the boss is cashing out his chips before he walks out the door? Wait'll you see the golden parachute he gets upon his "official" retirement!
Cvs stock really getting hammered today!
Some genius on another thread predicted this before earnings report was made public today.
“Agree. They are over focused on short term profits masked as a long term narrative of innovation. As soon as stocks go up for a short time, they’ll cash out and jump ship before it comes crashing down.”
That poster may or may not be me bragging about a very unoriginal and predictable scenario.
A big stock sale by the CEO could mean he knows something we don't and he's bailing out before the ship goes down. I guess things aren't so great at cvs after all!
Layoffs at high levels were made yesterday. Can’t say too much as it would narrow down my identity. Ask around for more info.
https://finance.yahoo.com/news/cvs-predicts-ugly-2019-closing-122451944.html
Here’s and excerpt from this Yahoo article that came down today.
(Facing challenges to its business from all around, CVS on Wednesday dangled the possibility of cutting expenses to get profits back in line.)
(“We see additional opportunities to continue to manage our cost base and reduce our core to help mitigate those headwinds,” Chief Financial Officer Eva Boratto said on a call with analysts.)
Looks like Larry May be “retiring” soon. Lol