77Port
4 months ago
Any insight to this abrupt decision?
MIAMI, February 7, 2024Β (GLOBE NEWSWIRE) β Hut 8 Corp. (Nasdaq | TSX: HUT), (βHut 8β or the βCompanyβ) today announced that Asher Genoot, President and a member of the Hut 8 Board of Directors, has been appointed Chief Executive Officer, effective immediately. Mr. Genoot succeeds Jaime Leverton, who departs from Hut 8 as Chief Executive Officer, effective immediately.
The Hut 8 Board of Directors (the βBoardβ) has determined, following the completion of the Companyβs merger of equals, the time was right to set a new strategic direction for the Company and that a transition of leadership was appropriate.
77Port
5 months ago
Yes, as is happening with other miners, the game is on. While I'm not really an opera fan, this is opera at it's best, full drama showing the worst humans behaving badly to get what they want.
The powers that be want the best stocks at the cheapest price and are willing to slice a few throats to get what they want.
The only problem with this awful model called capitalism is that communism, and its lesser cousin, socialism, simply finds other ways of using power to slit throats.
Either way throats get slit. But with capitalism we, supposedly, get washing machines and other luxurious gadgets which have a better chance of working.
77Port
5 months ago
Today's statement by HUT seems as libelous as was the short report a few days ago. If true, and if HUT can prove it in court, perhaps they can sue for damages. No doubt, that's an uphill battle.
But if, as alleged, this was lying for the short company's own benefit then, perhaps, it's illegal like insider trading.
From statement:
HUT8 "... believes that the report is filled with inaccuracies, misrepresented data, speculative claims, and unfounded character attacks. The report appears to represent a deliberate attempt to spread misinformation about Hut 8, its operations, finances, management practices, and key executives. .... The Company believes that the report was designed for the sole purpose of negatively impacting Hut 8βs share price for the short seller's own benefit, at the expense of Hut 8βs shareholders, partners, and employees."
That's a strong statement.