May. 8 at 11:36 PM
$JOB I’m bearish on the
$STRR proposal.
This isn’t a clean
$0.30 cash offer. It’s a stock-for-stock deal paid in
$STRRP preferred paper. That would cap JOB’s organic turnaround upside and convert common shareholders into preferred-income holders tied to STRR’s own execution risk.
What bothers me: STRR has fewer than 4M common shares outstanding, negative FCF / no clean profitability yet, preferred dividend obligations, and still wants buybacks + more acquisitions. That feels less like strength and more like using deal-making to build a better pro-forma story.
If JOB is truly broken, maybe
$0.30 is a floor. But if JOB has real standalone recovery potential, selling the whole option for preferred stock feels too cheap.
I’d rather see
$JOB walk, negotiate cash, or use this as a floor for better offers.
