{"id":27221,"date":"2011-12-18T23:11:55","date_gmt":"2011-12-19T07:11:55","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=27221"},"modified":"2011-12-19T10:18:29","modified_gmt":"2011-12-19T18:18:29","slug":"billabong-sacked-by-santas-numbers","status":"publish","type":"post","link":"https:\/\/www.boardistan.com\/?p=27221","title":{"rendered":"Billabong Stock Sacked 44% By Santa"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/12\/billabong_logo-1.jpg\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/12\/billabong_logo-1.jpg','popup','width=210,height=35,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2011\/12\/billabong_logo-1-tm.jpg\" alt=\"Billabong Logo-1\" width=\"200\" height=\"33\" align=\"right\" border=\"1\" hspace=\"4\" vspace=\"4\" \/><\/a>On November 25, 2011, when <strong><a href=\"http:\/\/www.boardistan.com\/?p=26631\" target=\"_blank\">we linked a story<\/a><\/strong> saying that <strong><a href=\"http:\/\/www.billabong.com\/\" target=\"_blank\">Billabong&#8217;s<\/a><\/strong> stock had &#8220;mysteriously&#8221; dropped 12.5 percent in one of the busiest days of Billabong stock trading all fall, one of our commenters speculated the following: &#8220;Insider trading. Someone&#8217;s gotta know something.&#8221;<\/p>\n<p>Oddly, today, December 19, 2011 saw <strong><a href=\"http:\/\/finance.yahoo.com\/echarts?s=BBG.AX#symbol=bbg.ax;range=1d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;\" target=\"_blank\">Billabong stock<\/a><\/strong> fall 44 percent (to a record low) after the company reported that &#8220;sales growth had &#8216;deteriorated significantly'&#8221; in the pre Christmas months &#8220;as fears of global recession undermined consumer confidence,&#8221; according to a story in <strong><em><a href=\"http:\/\/www.theaustralian.com.au\/business\/companies\/billabong-dumped-to-record-low-on-profit-warning\/story-fn91v9q3-1226225788011\" target=\"_blank\">The Australian<\/a><\/em><\/strong>.<\/p>\n<blockquote><p>Billabong has forecast earnings before interest, tax, depreciation and amortization of between $70 million and $75m for the first half of the financial year, down from $94.6m in the previous comparable period. . . The company also said the \u201cpoor macroeconomic and trading environment\u201d meant it was unable to provide any forecast for the rest of the financial year, but noted \u201cstrong underlying EBITDA growth compared to the previous comparable period in constant currency terms for the full year is not expected\u201d.<\/p><\/blockquote>\n<p>Those people who got out three weeks ago must simply be blessed with perfect timing. Unfortunately, founder <strong>Gordon Merchant<\/strong>, Billabong&#8217;s largest shareholder, was not one of them. His fortune took a <strong><a href=\"http:\/\/www.smh.com.au\/business\/how-the-tide-went-out-for-billabong-20111219-1p2g7.html\" target=\"_blank\">reported $78 million fall today<\/a><\/strong>, at least on paper. For more Billabong&#8217;s current financial situation check out the <strong><em><a href=\"http:\/\/blogs.wsj.com\/dealjournalaustralia\/2011\/12\/19\/equity-raising-may-be-billabongs-lone-wave\/\" target=\"_blank\">Wall Street Journal<\/a><\/em><\/strong>.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.theaustralian.com.au\/business\/companies\/billabong-dumped-to-record-low-on-profit-warning\/story-fn91v9q3-1226225788011\" target=\"_blank\">The Australian<\/a><\/strong>, <strong><a href=\"http:\/\/www.smh.com.au\/business\/how-the-tide-went-out-for-billabong-20111219-1p2g7.html\" target=\"_blank\">Sydney Morning Herald<\/a><\/strong>, and <strong><a href=\"http:\/\/blogs.wsj.com\/dealjournalaustralia\/2011\/12\/19\/equity-raising-may-be-billabongs-lone-wave\/\" target=\"_blank\">The Wall Street Journal<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 25, 2011, when we linked a story saying that Billabong&#8217;s stock had &#8220;mysteriously&#8221; dropped 12.5 percent in one of the busiest days of Billabong stock trading all fall, one of our commenters speculated the following: &#8220;Insider trading. Someone&#8217;s gotta know something.&#8221; Oddly, today, December 19, 2011 saw Billabong stock fall 44 percent (to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,12],"tags":[],"_links":{"self":[{"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/27221"}],"collection":[{"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27221"}],"version-history":[{"count":11,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/27221\/revisions"}],"predecessor-version":[{"id":27261,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/27221\/revisions\/27261"}],"wp:attachment":[{"href":"https:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}