Wrong. Factually incorrect. Many examples of internet companies and non-internet companies that did not fall as a result of releasing WORSE than expected results.
Please give me a single example of a company which significantly missed its rev and earnings number, which was not hammered.
the business conditions changed, and we took a temporary hit, but we positioned ourselves better for the future blah, blah, blah.
Gee, this sounds quite a bit like KP, actually.
Next you go into quite a bit of comparison to YHOO, MSFT, INTC, CSCO. Again I state these are irrelevant comparisons. I can't defend a KP against a Gates, Chambers, Barrett, or YHOO CEO (Koogle??). These guys have dominant business in their respective industries, and pristine earnings records as far back as I can remember (with the exception of INTC, which is just dominant). None have had the opportunity to disappoint, and even if they did, it would likely take more than one to deflate the stock given the history.
AMZN, the other hand, disappointed and was shaved by 60% or so. Yes, they've recovered somewhat, but lets see if it holds past this quarter.
MANY internet stocks have p/e, and are profitable (YHOO, AOL etc.), with the p/e still in the 100?s. Even a less stellar p/e like SCH ? which has slowing growth and a far lower profit margin, sports a p/e higher than NITE.
YHOO and AOL. The two internet titans. When was the last time they disappointed? SCH. Finally, a somewhat relevant comparison. Fell from 77 to 30. Hmmm. Sounds familiar. But wait, they met the reduced expecations, and those expectations were only reduced .02 to begin with.
The fact is, NITE severely disappointed, and they have been punished. You feel its because he lacks "the vision thing". I feel its because of the severity of the disappointment, coupled somewhat with the fact he didn't "come clean" sooner. Generally, speaking I have total disdain for lack of management integrity. But since my losses thus far in the stock are not too severe, he gets one more quarter to perform up to my expectations.
.NITE is, should be, and can be, more than ?just another MM?,
By this I assume you mean other aspects of market making. Perhaps expansion in options, into Europe, more institutional bias, more traditional broker relationships, etc. These things do take time, my friend. These are real, tangible, revenue generating things. He could talk about them all he wants. Without results he (or Bezos or anyone) wouldn't find many listeners.
With your attitude innovations would be dead! You really blew up on this one, Gary!
I plead guilty to not being CEO material. But your arguments are simply long winded and have little bearing on the real issues facing NITE, which is not the CEO's lack of vision.
So, I?ll rest my case, and let you have the last word.
Somehow I doubt this one too. :)
Gary |
