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04-18-2019, 12:13 PM #1
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Well, this isn't good (Camping World Stocks Tank)
Camping World shares tanking
CNBC host Marcus Lemonis, aka 'The Profit', has been hit with a shareholder lawsuit in Delaware claiming that he and a well-known private-equity investor manipulated the market while taking an RV supply company public.
https://www.zerohedge.com/news/2019-04-18/camping-world-crashes-after-cnbcs-lemonis-accused-insider-tradingLast edited by TucsonJim; 04-18-2019 at 12:50 PM.
Iraq/Afghanistan Veteran - UMICH BBA, M.B.A.
2018 GMC Sierra 2500 HD Denali 6.0
2018 Grand Design 150 series Reflection 290 BH
Bride - Anna, Son - Robert, and Gracie "the dog"
Flint, Michigan
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04-18-2019, 12:51 PM #2
Wow - I wouldn't be surprised if some of the top executives have to face criminal charges if the information in the article is true.
P.S. I edited the title to be more descriptive.
Jim
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04-18-2019, 12:58 PM #3
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Insider trading is something very easy to do. Didn't the same thing happen to Martha Stewart?
Foard County News & Sassy Schoolmarm
Nathan & Susan Gifford
Belle, & Danke
53 days camping 8000 miles 2017
2017 Imagine 2800BH
'07 GMC Sierra 2500HD Duramax LBZ 4WD
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04-18-2019, 01:02 PM #4
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My thanks, Jim.
Iraq/Afghanistan Veteran - UMICH BBA, M.B.A.
2018 GMC Sierra 2500 HD Denali 6.0
2018 Grand Design 150 series Reflection 290 BH
Bride - Anna, Son - Robert, and Gracie "the dog"
Flint, Michigan
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04-18-2019, 01:04 PM #5
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Yes - but Marcus Lemonis always bought Gander Mountain, transforming it into Gander Outdoors.
So if the shareholder lawsuit carries weight, it could spell big trouble for the shareholders of both outlets.Iraq/Afghanistan Veteran - UMICH BBA, M.B.A.
2018 GMC Sierra 2500 HD Denali 6.0
2018 Grand Design 150 series Reflection 290 BH
Bride - Anna, Son - Robert, and Gracie "the dog"
Flint, Michigan
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04-26-2019, 05:51 PM #6
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- Nov 2018
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- NE Nevada. Montana Summers
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There are political reasons as well for Camping World taking a dump. Similar to Dick's Sporting Goods, and Levi's.
Gary & Erin + Kitty the '85# Border Collie/Lab
2015 303RLS
2018 F350 CCLB SRW 6.7PSD (1st Ford coming from '05 Duramax)
http://www.kleenoilusa.com
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04-27-2019, 01:32 PM #7
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Never trusted that guy.
Brian and Paula- Truckee, CA
2015 Reflection 303
2017 Dodge Ram 3500 6.7L Cummings Turbo, Aisin HD Transmission
B&W Companion Slider, Firestone Air Bags, Compressor with wireless remote
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04-27-2019, 07:44 PM #8
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You would have felt better about C/W if the top management had any experience in the RV business. It might appear that Mr. Lemonis is in a heap of trouble.
Don't forget that they purchased a bunch of really good RV dealers. And they were paid such a high price for their businesses they couldn't refuse to sell. But since then, the employee turnover has been very high, and the stores are high pressure operations.
And when C/W and/or the hedge fund behind them purchased Gander Mountain out of bankruptcy, first thing they did was close down all the non-performing stores. Then they came back into some locations, restocked them and reopened them as Gander Outdoors. At that time, they talked like they were going to put a token inventory of RV's in Gander Outdoors but that never happened. They closed our "new" Gander after parking lots were empty--and ferocious competition from Academy and Dicks within 1/4 mile.
Obviously, Wall Street is not impressed and/or they're aware of some shenanigans and/or illegalities in process. Down, down down they go.Last edited by Bamaman; 04-29-2019 at 05:15 AM.
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04-28-2019, 06:22 AM #9
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This is precisely why I avoid single stocks in favor of mutual funds with a 10 year plus track record and a reasonable expense ratio. Too risky to have a large position in any single stock. Those Wall Street types and their shenanigans can’t be trusted.
The Adams - 2017 Reflection 367BHS, 2019 F-350 6.7L PSD 4x4 CC DRW, B&W hitch on Ford pucks, Air Lift Loadlifter 5000 Ultimate Plus air bags, "Rupert" the Weimaraner.
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04-28-2019, 06:46 AM #10
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After their CEO entered the political world, I decided to take his advice and to shop elsewhere. I have a hard time understanding those that run a company only to deliberately alienate some customers from their business. Not so smart.
MidwestCamper
Jim & Dawn
Near Milford, Michigan
2017 Imagine 2600RB
2015 GMC Sierra 1500 Double Cab 4x4
Anyone Else Getting Tired of all...
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