That is true but not necessarily a bad thing. They shed sunlight on a companies problems. They often buy out the company for a relatively high share price. Sure, they are opportunistic and hope to make more with a future IPO or private sale but that is ok. They risked their capital or were smart enough to leverage the company itself.
I would be thrilled with an $8 or $9 buyout today. The CEOs and directors refuse to step up and make open market buys of the stock. They are also the reason the stock is now in the 4s. None of them in my opinion care about either the company or it’s shareholders. I base that statement on their actions, not their words.
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