Content originally published at iBankCoin.com
They will play this interview in Harvard's Business School program for centuries to come on what exactly not to do and saying during a nationally televised interview.
Longfin CEO makes a good case for short sellers: 'We do not deserve this market cap." $LFIN pic.twitter.com/OEmIU3yHTC
— The_Real_Fly (@The_Real_Fly) December 19, 2017
It started off all well and good. Then about 2-3mins in, the poor CEO of Longfin, Venkat Meenavalli, got TRIGGERED and started to deride his own stock, saying they 'didn't deserve' the present market cap, which apexed at over $5 billion. He hedged his derision by saying he'd lock in his shares for 3 years and didn't have any intentions of selling because his company was profitable and because he's a 'shadow banking guy', declaring it to be a market valued at an absurd $72 trillion.
This all came about when CNBC's Brian Kelly questioned his acquisition of crypto company Ziddu -- just two days after IPOing, a company that he owns.
Grab a bag of popped corn and watch this absolute train wreck of an interview and try not to choke on those little niblets as they traverse down your trachea.
Shares of LFIN plunged by 14% following this interview.