After having the worse employee IPO participation in tech, GF(directors and above), are now in NYC living it up and toasting a job well done.
Too bad most of my friends have left in the last year for Austin.
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Today, Elon Musk did a pivot at Twitter. Hope it works out better for Twitter than it did GF, most of the employees not lay-off quit.
You are correct. GF got away with a lot when it was a private company and those same practices and tactics do not work anymore or maybe even illegal as a public company. Also you are right some vodoo economic accounting tricks have been played to dress things up and make it look a lot better than it is. If you actually read through all of it - GF is “eh” at best. Proper investors look under the hood and what they see is a company that appears to be hiding things.
What’s interesting is the games GFS plays when it’s getting close to earnings reports. Announcements of “new deals” (really old news repackaged right before earnings) - almost to distract or set up a positive talking point. It’s a very old trick and most seasoned experts see right through it. In fact today many see it as GF flashing there is bad news we need to cover up or set up a talking point to smooth out the reaction from other content. BUT the average Joe investor (watches Kramer but that’s it) doesn’t see or think that way and GF is banking on that hard. Think of apple - they have their big news reveals during the call not 2 days before. But to GFs credit so far that been working and helping them out. But it is diminishing- general public investors, firms and institutions are starting to get savy to it.
Finally as mentioned before the chip shortage buzz etc was extremely fertile ground for semiconductor companies that GF did not capitalize on. Again it was “eh”. They should have absolutely crushed it during this time but they floundered. Which is indicative of the leadership and business acumen of the company. They plainly put suck. They were given a moment that was an absolute guaranteed slam dunk and bungled it. People/investors take note of this. If they can’t accelerate on the straightaways, what are they going to do in the turns/curves?
@1mjo @1sto if only people knew about the real cost of the IPO to the company
SLT has the gall to tell some teams they have lost credibility. These are the same teams they gutted or outsourced so the books looked better for the IPO. This probably isn't enough to tank the company, but they definitely set themselves back. It will take a long time to recover even if better decisions are made
Many employees purchased IPO through brokerage rather than the employee purchase program. The ESPP is a limited participation offering and primarily utilized by low to middle wage employees. GlobalFoundries assumes a generous 20% risk through that program.
End of the day, the Employee purchase program is not the only indicator of stock holding by employees. OP’s post is myopic…
Now, Ice Cream. 😉
I bought expired waffles and c-m rocket tokens and made more money than I do in 6 months of working. Bragging about making money during the largest bullrun in U S. history is the most smooth brain boomer take possible. And you aren't even addressing OP's concern, you just wanted validation on an anonymous message board like a child.
I purchased at IPO through a broker, I’m up over 20% at the moment and I got free ice cream. Life is good.
Try being proactive and independent, it’s much better than sitting on the sidelines whining after the fact.. 😉