Mar. 1 at 4:35 PM
$PLBY A little history since I've been in and out of this dog since it came public in 2020. for those of you who look at the price and think this is a bargain, it might be, but Ben has not been a good steward as a CEO. They came public with a
$250 million market cap (25M shares at
$10). They had
$157M in debt vs today's
$199M in debt and 108M shares outstanding. So today's price of
$1.91 is the equivalent of 2020's price of
$8.24 at the lower share count, but you now have 45M more in debt with roughly 5% less revenue than 2020, and this now includes Honey Birdette revenue which wasn't around in 2020. If Ben were fired, I'd be much more optimistic that a turnaround could occur, but he's the overhang that will likely keep the stock price capped.
