The CEO of RH is insane. I have proof.
So, the stock is up by ~40% today after crushing earnings and guiding higher. That’s the cover story. The real story is Gary Friedman (CEO) has been planning for this moment, like Dracula in a fucking Transylvanian castle (cue thunder), for quite some time.
In fact, he presided over an unbelievable share repurchase, the likes I have never seen before. The company bought back 49.5% of its outstanding shares!
We have reinvested the $282 million of free cash flow generated in the first half, and the $263 million of cash and investments on our balance sheet at the beginning of the year towards the repurchase of our stock, which we believe is an excellent allocation of capital for the long-term benefit of our shareholders. We have repurchased 20.2 million shares to date in 2017, or 49.5% of the shares outstanding at the beginning of the year. Outside of the convertible notes that are due in June 2019 and June 2020, we had aggregate debt of approximately $504 million at the end of the second quarter, including a $100 million second lien bridge loan that we expect to repay in full by year end.
How did this crazy fucker do it? The company borrowed $460 million and used practically every penny to execute a vendetta to decapitate short sellers.
Courtesy: Zerohedge
With 57% of the shares sold short and the stock up 150% for the year, I think it’s fair to say Friedman is winning.
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Personal dyed with someone he knew shorted the shit out of his company?
Dyed=grudge. Damn spell correct
jungleegirl is a techie retard. Hyperlinking does not work to the piece of shit site, according to her. It works just fine:
https://tinyurl.com/y7uca3d4
See?
Good for him. Short selling is for nazi faggots.
brilliant!
no better allocation of ressources then the destruction of enemies.
Next rh will sell bonds to buy it’s own products to increase sales. The fuckery is strong in this one. Rh sould have died in 2008.
Best title ever!