Mar. 5 at 4:11 AM
$BRCC I know I am coming into the lion's den with this opinion, but I don't think BRCC has the right board to get through this difficult time. I think BRCC is a great coffee company that is being horribly mismanaged. They have
$138 million in gross profit and lose
$32 million. They are just spending foolishly. Energy drinks made by a third-party are not going to save them. They already have a great business in their coffee and it seems like they want to do everything except that. They should cut all Outposts unless there are a handful that are actually extremely profitable (probably still), they should cut their energy drink, and focus on the coffee.
The board is rewarding Hafer's poor performance by issuing 1.1M in options at
$1.11 strike. I will be staying away from this stock because the board and management are both complicit in poor performance, but a PE firm or coffee co would easily be able to make money with this strong brand.
