I first assumed that he came into his shares innocently because he bought them years ago or inherited them. Perhaps he's not in the US which might explain his ignorance of RSH's recent plight. In that case I'd offer sympathy.
Yes, more likely he bought them just days ago. And a pretty good amount of shares. He probably thought he was snagging a 1,000+ store chain with cleaned up financials. Maybe he "saw something" in a chart (LOL!) or "felt lucky" or "had a hunch."
What he clearly didn't do was homework.
How many "eyes" do you think remain on Shack shares? Thousands, including ex-employees and hundreds of savvy Wall Streeters, many with Ivy League brains, experience and bank accounts. We know some hedge funds are deeply involved. I'm sure he thought he was the "smartest one in the room" when he hit the buy button... a few days ago.
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