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Author Topic: Timing of the royalty cut  (Read 5424 times)

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« Reply #25 on: August 11, 2020, 07:43 »
+6
If this miserable excuse for a company didn't deserve the name SHITTERSTOCK before, it certainly does now.

I am sooo happy to be outta there.


« Reply #26 on: August 11, 2020, 08:16 »
+7
If this miserable excuse for a company didn't deserve the name SHITTERSTOCK before, it certainly does now.

I am sooo happy to be outta there.

Me too!  As I read through everything, it almost looks like Oringer is going to sink the company and made this move to squeeze the last out of the company.  The stock WILL NOT hold in the mid $50's, yet he is trying to sell a lot of shares after he artificially pumped up the stock price. Something just doesn't smell right.  Whoever buys at $55 will be making a horrible investment.  It is almost like they are doing a last hoorah to get Oringer and his dog, Pavlov, enriched while the company slowly erodes and is put up for sale.  This was not a move for long term business health, it was a move to enrich a very few people with little long term outlook. So something else is really brewing IMO.

« Reply #27 on: August 11, 2020, 08:35 »
0
This was not a move for long term business health, it was a move to enrich a very few people with little long term outlook. So something else is really brewing IMO.

Mesuspects you're right.

'Twill be "interesting" (ie, grim, depressing, sad, etc) to see what happens next.

« Reply #28 on: August 11, 2020, 10:20 »
+3
...The stock WILL NOT hold in the mid $50's, yet he is trying to sell a lot of shares after he artificially pumped up the stock price. ...

It's been as low as $47.xx today so far, having lost over 13% while the overall NYSE is at a record high (that's insane too, but that's a different story :) ). Doesn't look like the market is happy with Jon's plan...

Edited to add: $48.87 at 11am PST...
« Last Edit: August 11, 2020, 13:18 by Jo Ann Snover »

« Reply #29 on: August 11, 2020, 10:56 »
+2
If this miserable excuse for a company didn't deserve the name SHITTERSTOCK before, it certainly does now.

I am sooo happy to be outta there.
Shitterstock is a good name for that company, it suit very well.

« Reply #30 on: August 11, 2020, 10:59 »
+3
It's all even uglier than I realized. Oringer sold stock on August 3 and 4th - a total of 85,000 shares for a total of $4,645,801.97

The investor page shows the Aug 5 filing of SEC form 4

https://investor.shutterstock.com/static-files/5b826d21-eecb-4bd3-9852-cd28fa01bb3f

To get an idea of how much Jon Oringer pocketed as a result of their maneuver to bump up the stock price, compare the 85k shares sold with what they would have fetched at the July 8th price (his prior stock sale) - he made just over $1.5 million more ($1,508,451.97).

All of the above is before his plan filed today to get rid of another 3.5 - 4 million shares (it'll depend on the price as to what $200 million maps to)

What a disgusting man thing he is
That's no a man at all, is a shitthief!

« Reply #31 on: August 11, 2020, 11:09 »
+4
Sorry for my bad English and my bad words, that company stole my money. I am very upset about that. >:( >:( >:(

« Reply #32 on: August 11, 2020, 11:45 »
+2
Sorry for my bad English and my bad words, that company stole my money. I am very upset about that. >:( >:( >:(

Your English is just fine, alexandersr, and your "bad words" could certainly be a whole lot worse, given the miserable situation that we on this forum and others throughout the world are in right now.

« Reply #33 on: August 11, 2020, 16:30 »
+1
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.
That's not capitalism, that company is a pirate ship, and i say that because they dissabled my account and get the money i have there, arguing nonsense. ... Shitterstock  is a big thief!
unfortunately this is PRECISELY the definition of laissez-faire capitalism - rampant in the robber barons of the gilded age and back for sequel - for decades, starting w Reagan, we've seen the triumph of corporations over people- including SCOTU  recent rulings in Hobby Lobby & Citizens United

and while SS has been terrible, in perspective it's not even a minnow among the whales where corporate socialism is  the ideology - you keep your profits  but the govt covers your losses

« Reply #34 on: August 11, 2020, 16:52 »
+3
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.
That's not capitalism, that company is a pirate ship, and i say that because they dissabled my account and get the money i have there, arguing nonsense. ... Shitterstock  is a big thief!
unfortunately this is PRECISELY the definition of laissez-faire capitalism - rampant in the robber barons of the gilded age and back for sequel - for decades, starting w Reagan, we've seen the triumph of corporations over people- including SCOTU  recent rulings in Hobby Lobby & Citizens United

and while SS has been terrible, in perspective it's not even a minnow among the whales where corporate socialism is  the ideology - you keep your profits  but the govt covers your losses
Well, i live in a socialist country Venezuela, and we have big thief here. Have ever heard about this "All animals are equal, but some animals are more equal than others", Animal Farm, i love Orwell written works,  this so true. Capitalism is inhuman, but communism too.

m

« Reply #35 on: August 11, 2020, 20:29 »
+2
First the pump and now the big dump by Mr Oringer. Shutterstock will be sold soon based on this.
https://finance.yahoo.com/news/shutterstock-announces-proposed-public-offering-201900037.html


« Reply #36 on: August 12, 2020, 03:06 »
0
First the pump and now the big dump by Mr Oringer. Shutterstock will be sold soon based on this.
https://finance.yahoo.com/news/shutterstock-announces-proposed-public-offering-201900037.html
Is it 25% of shares owned by him? This time it is much more than few previous transactions. It is definitely a sign that something big is going on. The question is who is going to buy it?

« Reply #37 on: August 12, 2020, 04:30 »
+6
The way I see it, if SS is going to crash and burn through deliberate actions and ridiculous short term strategies of the people running it, it can only be good for all of us. The sooner it happens, the better it is. They have the maximum no. of buyers and the buyers would have to look elsewhere to get the images they need. Which hopefully means, they're going to look at the other microstock sites (hopefully Adobe and Alamy). So I would cautiously bet on those right now.
« Last Edit: August 12, 2020, 05:11 by offisapup »

Shelma1

« Reply #38 on: August 12, 2020, 06:41 »
+2
Oringer's selling 2 million shares and SS is selling 2.5 million at $48.50 per share. While he slides a couple of dimes across the table to us. https://investor.shutterstock.com/news-releases/news-release-details/shutterstock-announces-pricing-public-offering-common-stock

« Reply #39 on: August 12, 2020, 06:44 »
+5
Oringer's selling 2 million shares and SS is selling 2.5 million at $48.50 per share. While he slides a couple of dimes across the table to us. https://investor.shutterstock.com/news-releases/news-release-details/shutterstock-announces-pricing-public-offering-common-stock

And some contributers are happy as a pig in mud to stay
Go figure

« Reply #40 on: August 12, 2020, 10:11 »
+4
The question remains who is buying. What are the chances that these guys are offloading before they sell it to a big player who they don't want to be associated with. Think getty, facebook, smugmug types. So this gives them a golden parachute, and what happens after is of no concern.

Think flickr over the last few years

Shelma1

« Reply #41 on: August 12, 2020, 10:36 »
+4
Oh, totally pushing up the stock price so they can get out. Grabbing as much as they can from contributors over the next year so they can make hundreds of millions and be set for life. Then Shutterstock collapses and they just walk away from the wreckage.


« Reply #42 on: August 12, 2020, 11:05 »
+2

Think flickr over the last few years

Flickr is actually hasn't changed much since it's late yahoo years. It's still a boring place for photographers to dump their images for favs. Probably because they got a buyer who understood what it was all about.

The true comparison is 500px where photographers were actually making some money before they got bought out by Visual China and we all know how that turned out.

With Shutterstock, if/when they're selling out, the most likely scenario is going to be what happened to 500px. Like you said, a big player (probably Facebook or Microsoft) is going to buy it up and milk it to their liking with contributors not getting even the 10 cents they get now.

« Reply #43 on: August 12, 2020, 14:01 »
+2
Today's press release with a specific number of shares to be sold, and a price, differs from Monday's press release where they had money targets for the sale - $200 million for Jon and $50 million for Shutterstock.

Although SSTK is now down for the day ($48.60 when i started writing this), if they can sell at $48.50 (as the press release says), that would bring Jon a gross $100,104,000, or about half what the Monday press release stated.

And if the price drops way below their target, I have no idea what happens to the sale (is this like a reserve price at an auction or do they sell regardless of what the market prices SSTK at?)

« Reply #44 on: August 13, 2020, 02:57 »
0
It really depends on type of the order. if it is a Limit order it won't be sold until the price gets back to the one put as a limit. If it is a Market order it will be executed no matter the price drop. It can also by limited by date. I don't know if this information is public.
« Last Edit: August 13, 2020, 03:30 by pics2 »

« Reply #45 on: August 13, 2020, 05:06 »
+5
I have no idea whether this is a glitch or an omen of things to come, but my Shutterstock favicon just changed itself to Google:

Cobra

« Reply #46 on: August 13, 2020, 07:57 »
+3
heard they might do another "Wolf on Wall Street" movie staring Jon as himself...

« Reply #47 on: August 13, 2020, 10:40 »
+2
heard they might do another "Wolf on Wall Street" movie staring Jon as himself...
Ja,ja ja
I think the movie will call . "Bitch thief of Wall Street".

« Reply #48 on: August 15, 2020, 11:39 »
+5
I have no idea whether this is a glitch or an omen of things to come, but my Shutterstock favicon just changed itself to Google:
Look at this!

« Reply #49 on: August 15, 2020, 11:41 »
+1


 

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