As I said yesterday -- I DID NOT like the layoffs. Usually this is a good sign for SHAREHOLDERS because the prevailing wisdom has always been lowered costs, a temp increase in efficiency, greater profits (short term) & capital preservation but...
So TONE DEAF!! So I TOOK MY EXIT & SHORTED this...
I get that they'll pick up labor FAR MORE cheaply, in Mexico for example...
& I LOVE that (from the pov of a long-term shareholders) but the PI & business, including the NEXT FIGHT down there... Isn't coming anytime (SOON ENOUGH)
We could see this hit the $70's or lower... Setting my SIGHTS LOWER -- Sold $105's++ & I WAS in BIGGLY!!
Too bad... BOTH the WWE & UFC have been kicking ass but... This was a misstep imv, & I think some dumping will ensue. It's not so much that its a lot of jobs, that would have a TREMENDOUS impact to the bottom-line - but rather the message...
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