Veritone Inc (VERI)

[GBR]

I don't understand the point of yesterday's PR. It was no secret they spent the entire 2023 restructuring and "streamlining". It was no secret they were laying off people back in January. Seems just when the stock was starting to move again, going from 1.50 to 2.50, they make this announcement and send the stock back down to 1.90. Well I should say, they alerted their friends and family in advance and then issued the PR after the bell. Still, the only thing this PR does is create a "restructuring" headline for the market to see. They basically addressed this restructuring during all of 2023. Add to this the fact that they have not issued a PR since mid-December. Why not just wait until earnings in March, and announce that you are 14% leaner as far as headcount. Yesterdays PR seems more like an effort to keep a lid on the share price than anything else.

"While the vision we laid out in 2023 remains, there is more work to be done to streamline our organization so Veritone can capitalize on its next phase of disruptive growth and the increased demand we are seeing.” Ryan Steelberg 02-21-24


"In summary, our efforts in 2023 have been focused on streamlining operations to build a strong foundation for Veritone's next phase of disruptive growth. "

Mike Zemetra 08-08-23


"In summary, our efforts in 2023 have been focused on streamlining operations to build a strong foundation for Veritone's next phase of disruptive growth. "

Mike Zemetra 11-08-23