Nov. 29 at 12:01 PM
$BEEM in June 2023 Desmond sold a massive amount of stock at a truly massive discount to buy several business that Beam could not afford. At the time the stock had great momentum and was recovering from dropping from the high teens to the upper single didgets. Desmond, overextended the company and bought business that could not be integrated into the business. His purchase of all cell, was the beginning of the end. All cell battery tech is not very good quality and not appropriate for the beam product application. I consulted with EV battery experts on that. He went on to buy other companies all at the expense to long term shareholders and just absolutely destroyed value. Desmond has not created any value for shareholders under his watch, evidenced by the lack of institutional ownership in the company and the consistent selling of stock by him and the board. To salvage this business, I call on the board to fire Desmond and hire an experienced EV exec from the industry.
