Thread regarding GlobalFoundries layoffs

What a joke. Now everyone knows they have always wrapped dollars around every wafer shipped. That cost the mubu a lot of cash.

@2zza+1do63yRe
but, but, we have promoted a lot of women and increased our D&I scores, our Glint scores are great. Doesn't that count?? THAT, is our pipeline. Globalwomen is our sustainable model! You guys don't understand...

In my view the stock might go up purely because of the optimistic narrative that GF has been portraying in press about how GF is addressing the market gaps and to support it is GF’s increase in revenue for 2021. However, the trouble will be probably for 2023 and beyond when they will not be able to demand the premium ASP’s on 14nm. There is nothing in pipeline for beyond 14nm and at that point the profits are most definitely going and there is no real plan on how they are going to have a sustainable model unless they license or sell the fab.

I found strange thing in sec filing. Why existing share holder(Dubai) got price per share 23.72 when new investor paying 44.5. If they decide to exit business anytime can do as long as price is above 23.72 but we cannot exit until above 44.5

GLOBALFOUNDRIES Inc. is incorporated in the state of CAYMAN Islands. For financial reporting, their fiscal year ends on December 31st.

@1iem+1do63yRe yes, we agree - was addressing someone who was surprised to see an ipo share price at $45. in fact, it's just the effect of a reverse split but nothing really changes in market cap - half as many shares worth twice as much. now as to why they were surprised to see such a high price - maybe they were thinking about options at $11 noted earlier... but reverse splits will affect options / RSUs too, so counts prior to that split would all have to be adjusted as well. so those 2017 grants are not worth 750k.

Micron and Samsung do foundry work too. AMD was using GF as a foundry but when the product failed they went to TSMC to get the job done (I am pretty sure this is public information). Yes, I am highly aware of how foundries work and also know where the products are going. Samsung does foundry work for Intel! Really funny environment, like Ford designing engines and then buying them from GM or something. If you read articles closely enough, market reports and some other public information you can glean some information about who these foundries are producing for. Samsung really tries to keep everything they make in-house, I think this has more to do with Korean nationalism and protectionism than actual concerns over quality or profit. You open up a Samsung device and it is full of Samsung chips.

Trying to be careful what I say here... but GF went all in on 7nm, guess what...it's hard. It is REALLY HARD...they have tossed in the 7nm towel and are going to use their capitol equipment to milk some 14nm nodes to try to recoup their losses. This might buy them some short time profits and might make their IPO look attractive. If TSMC, Intel, Micron, Samsung and Hynix continue down the 7nm and even 5nm road then GF will just be another PowerChip and Rexchip building old technology at a tiny profit margin. China/Taiwan is full of companies that can crank out old technology, I don't think GF is in a great space to compete with those guys. This chip shortage will end, it will end in a big way overnight. Just like when Toshiba announced that they overbuilt and undersold memory back in the late 90s and again in the mid-2000s. Memory prices dropped by 70% or more overnight. Back then the Korean government even got busted for buying up memory from LG (Hynix) and sticking it into storage containers.

Just trying to add some reality - like Tesla, I wish GF the best, they are buying up more capacity at other (not Malta) locations and I would love to see the US Semi market be a contender (even if it is a foreign held company).

@1ixd+1do63yRe reverse share splits don't affect market cap... if they have less shares, those shares just end up being worth more

the ipo f-1 filing also shows a 1:2 reverse stock split took place in sep just before the IPO filing. this makes the share price twice as high. but it also means you now only have half as many shares. also means if you had 20,000 options or RSUs, now you only have 10,000 coming. thus the band 10 option grant example from 2017 below would be worth more like 325k, not 750k.

$47 for IPO?? can i know what they are smoking?... lets see what the opening bell is .. and sell before the 1st earnings report .. the price will tank ... there are already 2 - 3 negative reports out there on why GF IPO is not what it seems it is

many experienced folks are leaving , compensation sucks across the board ... even levels 2-4 are being poached by Target / Walmart where the per/hr rates are so much better than GF ... level 5s and above .. you easily get a 20% bump outside in any of the semicon related industry ... trust me ...

@1zhr+1do63yRe
Mubadala will sell around 10.6% of its stake for $2.5-2.6B. So that gives GF an inflated market cap of $25-26B.

Definitely there will be a huge rush to buy GF stock and everyone will be happy…… until GF financial report deteriorates in 2022 and everyone wakes up. If you read the quarterly revenue, you know a huge chunk of 2nd half 2020 revenue is shifted to 1st half 2021. When it comes to 2022, GF will not be able to register much growth as 2021 revenue has been booked. Being a public company, you are being scrutinized more and GF can’t simply rewrite its story every few months.

Where is all this nonsense coming from. They are offering 55million shares between 42-47 translating to 2.3 billion to 2.5 billion where is this 25 billion coming from

I think no lockup for direct stock purchase as per sec filing prospect documents.

I see six month lockup for management shares.

I believe demand will be there for all new IPO and chip stocks. Since supply will be less if no one sells

Anyone figured out what's the minimum holding period for DSP shares, or if I can place a stop-loss sell order right from the beginning? No point of DSP if stock going to tank.

This has zero impact on my current job search (Fab). I have no money to buy stock.

https://www.sec.gov/Archives/edgar/data/1709048/000119312521301511/d192411df1a.htm#rom192411_9

Read page13. GF is only targetting breakeven in Q3'21 while most companies are targeting at least 30% net profit. I seriously think GF knows its limit is well stretched and it needs to be listed before all things go loose.

In 2017, band 10s were given around 20-25,000 share options at an average price around $11, fully vested last year and good till 2027. So anyone still holding those would be looking at about three quarters of a million cash out assuming GF holds a $45 share price target for a year after the IPO. However, also heard most people decided to trade in those 2017 options for less shares with benefit of a lower entry price after the 2018 layoffs, but also a reset vesting period. Would be interesting to see how those new shares compare.

This is excellent news. Currently in negotiations with new employer(leaving GF), this will boost my bargaining