Found this one tonight:
Rubicon Project (NYSE: RUBI) announced that Chief Financial Officer Todd Tappin has resigned to assume the role of President at another company. Effective immediately, current Chief Accounting Officer David Day has been named interim CFO while the company conducts a process to identify a full time successor.
Any thoughts on this? Does anyone think Todd was asked to leave due to the the quarter after quarter sandbagging?
Best,
–Kevin
That sure could be Kevin. It doesn’t sound like bad news!
Saul
They also today reiterated guidance ahead, and they are almost 2/3 the way thru the quarter…what was it? 8-10 cents ?
Rubicon Project (RUBI), which operates one of the largest advertising marketplaces in the world, today released highlights and the full recording of CEO and Founder Frank Addante’s address to the 17th Annual B. Riley & Co. Investor Conference held yesterday in Los Angeles, CA. Following the conference, the company reiterated its Q2 and Full Year 2016 financial guidance previously provided in its Q1 2016 earnings press release and conference call on May 3, 2016…
http://finance.yahoo.com/news/rubicon-project-ceo-founder-ad…
JT
tini position here
…Chief Financial Officer Todd Tappin has resigned to assume the role of President at another company.
This doesn’t sound like a bad or “shady” thing to me. Sounds like he’s leaving to be the top dog at another company, who can blame him if he got a better offer elsewhere, which is what it sounds like. Assuming they find a good replacement, I don’t think this will hurt the company, as some others suggested, it may even make things better if it makes them more accurate with their projections.
I only had a very small stake in this one so far, but am willing to take another small bite with the 11% drop this morning on what I don’t deem as bad news, but the market apparently does (I guess they view it at least as uncertain news).
They also today reiterated guidance ahead, and they are almost 2/3 the way thru the quarter…what was it? 8-10 cents ?
The ex-CFO figured the guidance, but then left without warning. I don’t think you can reasonably expect the company to change that guidance without at least a fresh look at the numbers, not on a day or two notice, anyway!
Saul
Good opportunity to day-trade in RUBI. Buy at $14 and sell at $15.
I did buy a bunch at $14 earlier today. If the stock tanks to $12 I’m
going to re-brand myself as a Buy-N-Hold guy and dig in for the long haul…
Started a small position with RUBI today…about 1 % of my holdings.