Some thoughts on the departure of Peggy
posted on
Jul 29, 2010 07:37AM
I originally invested in CMM last November and so I have made alot of money with CMM and Peggy. I have never had the bad experiences that obviously many others have with her so I have to say a big thank you to her!
However, from what I am hearing and reading, our SP was now being held back because of her and for an investor, it always comes down to money, we would not be here otherwise. The market's response yesterday was significant as most stocks that lose their CEO get hammered and we actually went up on decent volume. It will be interesting if we can confirm a new uptrend today.
However, what I like best is that if Peggy was pushed out, that could not have been done without at least the blessing of Finsky and Scola. These 2 guys have a history with Peggy from another company and for them to either force Peggy out or at least support her departure means they really care about the share price and that bodes well for us.
The plan for growth includes growing by acquisition using our share price as currency. If Finsky and Scola are serious about this strategy, then removing Peggy was necessary as institutions were not willing to support the company with her in charge. This again bodes very well for us shareholders!
So with mixed feeling I say goodbye to Peggy and wish her all the best.
Glorieux