As I've said time and time again, allowing Jeremy Lin to exit and not match the offer sheet of the Houston Rockets was a bad idea by the NY Knick organization. And after the reports that Carmelo Anthony and J.R. Smith went on record with their impending disapproval of a match sheet offer, none was made. I just hope that didn't have any bearing on the final decision. Because if it did, Mr. Anthony has thrown anothermonkey on his own back to add to the one Lebron threw on his back by getting a ring last season.
So I hope M. Carmelo Anthony can find a way to win a title or start 10/20-0 next season, because now that Jeremy Lin is gone, the busines side for MSG investors is steadily declining.
Chalk it up to bad luck or bad decision making, but the folks at Madison Square Garden and those who invest in that company can’t like what’s been going on the past couple of days. MSG’s stock has lost over $100 million in the past five days. And the pattern shows that its more than likely linked to investors disapproval over point guard Jeremy Lin signing with the Houston Rockets when the New York Knicks had every opportunity to re-sign him.
When Lin made his first start on February 6, MSG stocks were at $29.49.
Two weeks ago, the stock was sitting pretty at $38.80........ a 30% percent jump, when many in the Knicks organization, including head coach Mike Woodson thought the Knicks would match the Rockets offer sheet for Lin.
The shares have now dropped to $35.50...... an 8.5% percent decrease..............
Chalk it up to bad luck or bad decision making, but the folks at Madison Square Garden and those who invest in that company can’t like what’s been going on the past couple of days. MSG’s stock has lost over $100 million in the past five days. And the pattern shows that its more than likely linked to investors disapproval over point guard Jeremy Lin signing with the Houston Rockets when the New York Knicks had every opportunity to re-sign him.
When Lin made his first start on February 6, MSG stocks were at $29.49.
Two weeks ago, the stock was sitting pretty at $38.80........ a 30% percent jump, when many in the Knicks organization, including head coach Mike Woodson thought the Knicks would match the Rockets offer sheet for Lin.
The shares have now dropped to $35.50...... an 8.5% percent decrease..............
I don't see Amare', J.R. Smith, Jason Kidd (whom so far can't seem to handle the NY pressure after running his 2010 Cadillac into a lamp pole last weekend and adding a DUI to his rap sheet at dam near 40 years of age) or Tyson Chandler jerseys and merchandise moving units like J. Lin did. And I can guarantee all of them combined WILL NOT..... But what any smart investor would do is invest in the Toyota Center which is home of the Houston Rockets....
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