The never ending story: More bad news for Compass
If you end up in a hole, cease digging.
It’s an adage that Compass cheerleaders should adhere to.
Well at least Compass CEO and co-founder Robert Reffkin appears to be coming round to the fact that the brokerage must cease hemorrhaging money, particularly with company sales plummeting.
The dumping of Compass stock
Goldman Sachs downgraded the brokerage’s stock. Buyers reacted by dumping Compass shares, as Compass shown quarterly loss and lowered its income expectations.
Compass’ share value down 11 % on Aug. 17 and 10.8 % on Aug. 19. It fell again 7.7 % Monday morning and on Tuesday reached an all-time low of $3.21. This was a $20 stock on its April Idiot’s Day debut.
Compass has lost $500,000,000
Compass’ opponents have been making that criticism for years because the agency recruited their expertise. However till Compass makes a revenue — it misplaced practically $500 million.
“Compass can not outrun math.”
