Wandisco Share Discussion Threads

[tickboo] 07/10/2016 08:43

Was going to put some in here but will hold on until it goes 20% or so lower as depending on where some of the IIs got in they'll be shedding shares. Shame there isn't a competent CEO leading this co. as it has massive potential. The resignations say it all.

[shaunstar] 07/10/2016 08:13

Found this artcile on FT

Note following comment from outgoing Chairman Walker about the CEO Richards:

“David was always over-optimistic but constantly under-delivered,” said Mr Walker, who said the company had never turned a profit and did not look like doing so any time soon. “I don’t see David as a visionary, but he’s very good at self-promotion. It’s always what is happening tomorrow,” he said.

[bakunin] 06/10/2016 17:17

Just checking this out for a short now.
Decided to delve into what might be causing the disunity.
Thought the California-Sheffield duality might have something to do with it.
Must be quite hard melding 2 very different cultures together.
I don't have too many good words to say about the quality of IT professionals in the UK. And one would have thought that anyone joining the team in California would be looking to make an adventurous career move.
I think my expectations may be borne out.
It turns out that Sheffield is one of those IT environments that has a games room for the lads.

Not surprising then that there are lots of gushing compliments about working at Wandisco on glassdoor from the Sheffield development clan.
On the other hand, there are a couple of scathing posts, one specifically from California, and a third post from California hints at an "inner circle" type of set-up amongst the development staff (" We are working really hard but the company knows it and paid for the core dev team to go to Tahoe for a long weekend. This really is the best company I have ever worked for")
hxxps://www.glassdoor.co.uk/Reviews/Employee-Review-WANdisco-RVW10412505.htm
hxxps://www.glassdoor.co.uk/Reviews/Employee-Review-WANdisco-RVW8366087.htm

[bakunin] 06/10/2016 16:39

davidosh
Makes you wonder if Richards was asking the FD to do some "creative" accounting to help hide the lack of revenue. The FD might have brought this up with some of other directors and thought honesty was winning the day when Richards left. On Richards' return, perhaps they have decided they don't want anything to do with what is going on.
shaunstar
That reader doesn't really have a clue about their technology with a statement like that. They are merely executing very poorly and that probably has a lot to do with Richards' laziness/attitude. Hence, the mutiny going on.

[shaunstar] 06/10/2016 15:05

Comment from FT AlphaVille reader:

"And so much time, money ,trading, speculation, BS over what is nothing more than a Subversion extension/support company. Mad!"

[davidosh] 06/10/2016 15:04

The really big question is....

Why does an FD appointed only a few weeks ago and just one week into the job decide he made a bad decision and walks off ?

Was it the books when he opened them ? Was it the turmoil ? Was it the CEO coming back (although when he took the job that was who he expected to be working alongside !) or the realisation that the job was not what he thought it was ?

[bakunin] 06/10/2016 14:02

Not so sure about this one any more.
I have begun to get the impression that Richards is very lazy.
With the technology they have and the resources they have had, they should have been working at getting the technology sewn into the offerings of the likes of Nutanix, Red Hat etc etc.
Instead they choose the easy option of getting IBM to do all the commercial work for them, preferring to wait for big-ticket sales to come along.
Instead of making the technology must-have across-the-board infrastructure, they have tried to present it as an extremely precious jewel that only the big boys can have or anyone wanting to have an extra AWS-billed item can have.

[battlebus2] 06/10/2016 11:56

In out shake it all about...ready to buy again lol.

[phowdo] 06/10/2016 11:37

The CFO has only been with the company a week.
And the last CFO exited pretty much as soon as his (very generous) options vested...

[davidosh] 06/10/2016 11:19

shaunstar....I certainly agree and the bizarre thing here is that so many of the board have resigned over this. Dave Richard has been re-appointed as CEO because apparently he secured the backing of '58% of our institutional shareholder base' following his ejection from the hot seat a few days ago. The Chairman, the CFO and a NED have all stepped down.

So.....those outside the workings of the company but mesmerised by the CEO have gone against three board members within the company and seeing the issues within the business.....priceless and seemingly clueless IMO.

Who are the instos that have supported this and where were they when proper action was needed at tens of other companies like VLK etc ?

[shaunstar] 06/10/2016 10:43

Well i haven't posted in a while but i was thinking the top is in here a few days ago with CEO leaving who personally holds 7.6% of shares. Such an abrupt departure with no explanation screams trouble. And you don't leave a company that's in an exciting phase unless you've done something naughty or in fact because its all hype. With this in mind i was expecting the CEO to sell his shares and in such an illiquid stock the price tumbles.

But, the news today says he's back! Maybe he won't be offloading his shares just yet. So less bearish.... until i read that:

"I am delighted to be returning to WANdisco with the express backing of approximately 58% of our institutional shareholder base."

So there's some kind of dispute going on, and up to 42% of institutions don't support him. Presumably they wanted him out in the first place. Logically they'll all now be re-evaluating whether they want to continue to hold shares - i suspect not if they were willing to force the CEO out. The institutions will be reducing their holdings into an illiquid market and i think we'll see new lows here over the next 6 months alongside disappointing trading statement/results.

Today's RNS contained vague words around cash costs declining and good pipeline bookings. It would have been bullish if they'd confirmed revenues were good or increasing - but they're not. Revenues are declining and you can't pay your bills with pipeline opportunities! And you certainly can't repay a $10m overdraft in March next year with the pipeline.

Gla,
Shaun

[kop202] 07/8/2016 18:58

This has gone up for fundamental reasonsWhat us a technical reason. Please expand on what a" technical reason" means

[itchycrack] 05/8/2016 23:35

There are many stocks just going up for technical reasons only, without any fundamental changes to be positive about. These are going to be the best SHORTS when the crunch comes - and it will, just have to be patient :-)

[shaunstar] 05/8/2016 17:31

Wow PRSM - thats a chart and a half. On a glance though its surely a better investment - its revenues are actually growing.

And Avanti is up 44.6% today but theres no way i'd be buying there (or trading).

Modform - not having a go at all - fair play if you've made money here – I’m not much of a trader – more buy and hold until fair value. But blow me down if this bounces down off recent high as a few months ago, I’ll be buying at c 140p for the run back up again 

BB – it’s a dog because it's been around for years, revenues declining, placing after placing. Synety now Cloudcall is also called a dog but I’m actually fond of that one (again growing revenues and post placing cash break even is achievable at current forecasts)  But I will still admit it’s a dog.

Personally I think something fishy is going on with WAND shares given US buyers, a charitable foundation and general lack of liquidity yet big moves.

If I worry that I might be wrong about a company because its shares have gone up – like here – I remind myself that my track record the last few years of calling companies right is about 95% (see my thread on advfn). Maybe you guys will make some money on the long side and then much later I will make some money on the short side.

[modform] 05/8/2016 16:30

Shaun, Just look at PRSM, bonkers valuation 24 times revenue and is up 40% today, you may short, others may buy, it's all about making money and we all invest and trade differently, that's why there's a market.

[battlebus2] 05/8/2016 12:26

It's all in your view it's a dog....some would say it's got potential..... :))

[shaunstar] 05/8/2016 12:19

Personal profit and loss aside... i find investing very interesting.

I'm so curious for example how a charitable foundation in US comes to be buying an AIM listed uber dog :-p

[sphere25] 05/8/2016 11:27

Take a bow Jon D. & Linda W. Gruber! You're going to lose all your money.

Don't be a muppet and follow these two muppets into this.

Sheer stupidity!

Avoid!

All imo.

[battlebus2] 04/8/2016 18:39

Hi modform I've been in and out of these more times than the proverbial yo-yo :))

[modform] 04/8/2016 18:26

Yes bb2, still in here but just running with the profit only

[battlebus2] 04/8/2016 16:24

I think we're all mad in some respects :))

[apfindley] 04/8/2016 15:59

Decent movement continues today.Also take a look at GWMO its about to multibag, and drilling of its huge copper-gold asset has started. Awaiting rns.Multibagger, GWMO get in ahead of the crowds. But can hardly buy any, it's coiled and about to explode.

[bonof] 04/8/2016 14:58

yes indeed rathkum !!