It might explain why “Chicken soup for the soul” stock sometimes runs for absolutely NO reason. No news no catalyst.
I didn't know there was a company by that name, and I watch this stuff every day.
Looked it up.
Interesting ...
Stock plunged 39% yesterday. Filing bankruptcy.
Chicken Soup for the Soul Entertainment, which owns movie rental company Redbox and the streaming service Crackle, has entered bankruptcy on rocky footing, with its lenders moving on Monday to wrest control from the company's chief executive.
Stock is trading at $0.11.
Just a few weeks ago, the company got rid of its entire Board of Directors, except for Chairman/CEO:
Chicken Soup for the Soul Entertainment, the ailing parent of video kiosk operator Redbox and streaming services like Crackle and Popcornflix, has gotten rid of its entire board of directors.
The only remaining board member, the company said in an SEC filing late Monday, is chairman and CEO Bill Rouhana.
The company filed for bankruptcy protection in Wilmington, Delaware late Friday, intending to fund its restructuring with a $20 million bankruptcy loan from private credit firm Owlpoint Capital. But private investment firm HPS Investment Partners, which is owed $500 million, quickly moved to block the new loan and wrest control of the company from CEO William Rouhana.
I'm not accusing anyone of anything, but their company would be a convenient way to "move money around," based on their website statemnt:
We specialize in creative financing solutions under complex situations. With a focus on credit investments backed by IP and other esoteric assets which are difficult to value.
We primarily focus on credit investments in complex assets and situations, including Patents, Media Rights, and other forms of emerging intangibles such as Data Rights. We seek to partner with asset rich companies where the hidden value of intangible assets could be unlocked to provide access to both growth and working capital.
On their "Our Team" page, the CEO & Co-Founder looks very Indian, as does the CEO of Chicken Soup. Could be a coinkidink.
Very weird, that they have listed on their team an "Analyst" who is:
Currently pursuing a Bachelor of Science in Business Administration with a concentration in Finance at Binghamton University’s School of Management, Conor maintains an exceptional cumulative GPA of 3.80/4.00 and has consistently earned a place on the Dean’s List since Fall 2020 and is graduating May of 2024.
Seriously? When was the last time a high level person in a company mentioned they were currently working on a degree, and what the GPA was?
Never?
Another weird one is a person listed on the team, but job title says, "Arena Investors, LP (arenaco.com). That's not a job title. It's the name of a company. He also has a name and look that is very Indian. His education is:
He holds a Bachelor's degree in Engineering from CIT in India.
Not what you normally see.
For a company that supposedly is involved in high level and complex finanical deals, their website is a cookie-cutter from a company that has almost exactly the same web template design:
The would know. It might explain why “Chicken soup for the soul” stock sometimes runs for absolutely NO reason. No news no catalyst.
I didn't know there was a company by that name, and I watch this stuff every day.
Looked it up.
Interesting ...
Stock plunged 39% yesterday. Filing bankruptcy.
Stock is trading at $0.11.
Just a few weeks ago, the company got rid of its entire Board of Directors, except for Chairman/CEO:
https://deadline.com/2024/06/redbox-chicken-soup-for-the-soul-entertainment-removes-board-of-directors-1235976552/
Get this:
OWL Point?
https://finance.yahoo.com/news/redbox-owner-chicken-soup-soul-220909569.html
I'm not accusing anyone of anything, but their company would be a convenient way to "move money around," based on their website statemnt:
https://owlpointcapital.com/
On their "Our Team" page, the CEO & Co-Founder looks very Indian, as does the CEO of Chicken Soup. Could be a coinkidink.
Very weird, that they have listed on their team an "Analyst" who is:
Seriously? When was the last time a high level person in a company mentioned they were currently working on a degree, and what the GPA was?
Never?
Another weird one is a person listed on the team, but job title says, "Arena Investors, LP (arenaco.com). That's not a job title. It's the name of a company. He also has a name and look that is very Indian. His education is:
Not what you normally see.
For a company that supposedly is involved in high level and complex finanical deals, their website is a cookie-cutter from a company that has almost exactly the same web template design:
https://unitedofweb.com/
Everything about this company reeks of a front of some sort, or at the very least seems weird.