TWLO’s CEO on Cramer’s Mad Money tonight. Cramer is minimizing it’s accounting issue.
Rob
7 Likes
I saw that as well. Not sure I would have described it that way. He certainly pushed the CEO to explain. CEO explained it as a simple math error that a number of people reviewed and nobody caught. Cramer basically said, I think your a smart guy and I expected more of you. He then asked him to promise as the CEO that it wouldn’t happen again. Very unusual interview. Cramer showing deference to a CEO but clearly saying this is unacceptable.
Almost surreal. Hard to believe that something like that could happen but apparently an investor found it by adding publicly released numbers. Clearly not something they were trying to hide, just stupid mistake. Not sure what to make of it. Is it a sign of a bad governance or just a freak event… certainly I don’t know.
Randy
Long TWLO
6 Likes
I thought Cramer slammed Lawson, almost in a self serving way to justify his poor call on the stock.
And Lawson looked rather small, especially at the end of the interview when Cramer demanded Lawson promise that the CEO would see to it that such an error would never happen again, to which Lawson foolishly committed.
Better was the reply by Jamie Dimon to Wilford Frost earlier in the same day. When Frost demanded a similar commitment from Dimon. The JPM CEO replied that he would do no such thing, and simply said he would commit to continually do his best, the honorable, sensible, commitment.
Lawson looked intimidated and made an impossible promise, Dimon looked strong and wise.
11 Likes
I thought Cramer slammed Lawson, almost in a self serving way to justify his poor call on the stock.
Cramer said he had recommended TWLO to his “Action Alert” readers. So while it may have been a bad call in the near term (we don’t know where he rec’d it); his fervor to get answers from Lawson for his readers likely was real.
Rob
“his fervor to get answers from Lawson for his readers likely was real.”
Might have been so. i shouldn’t have gotten into gratuitous motivation speculations which was not important to my main point at all, which was that the Lawson reply at the end of the interview made him look weak and that the interview as a whole was not great.
He certainly didn’t minimize the issue. He shammed the CEO and made him explain it and promise that those type of errors won’t occur again.
Razz
That should have read “shamed” him not shammed him - big difference.