1933 Industries ($TGIF) is an outfit that has checked every single box marked ‘WRONG’ for so many quarters now, I can’t keep track.

They’ve been ‘extraordinary’ before, just prior to jettisoning <some> of the executive 2 weeks later in what one might describe as partial repayment ‘in-kind’.

Man, this thing’s been a dumpster fire so long, it leaves an observer to wonder why it hasn’t burned itself out by now. That bull run in the spring sure as hell didn’t help, nor is the regulatory uncertainty kicking around the Capitol. Anyhow.

This time they’re asking for another ‘redo’, and proposing to kick the same ball for yet another year, while holding the same small calibre gun and same infirm (and already wounded) hostage as last time too.

I’ll give credit where credit is due, and $TGIF’s ‘leadership’ has kept this zombie alive despite making every single error any company in the world of formal commerce can make. That is pretty remarkable. Importantly, its’ more of a comment on the sector itself……bubble wrapped margins and all (which $TGIF can only dream of).

I didn’t think they’d get past that last goal line – which was a redo on a redo. Let’s see if they can stickhandle this one. Uncertainty around Schumer’s draft legislation might work in $TGIF’s favour, might not. But it could be a glimpse into the patience of those who have been asked to be patient far too many times as it is.

Look for a deal to be made before the brinksmanship……. and the bluff ultimately remaining uncalled. Shareholders are going to pay for $TGIF’s ineptitude, one way or the other.

The preceding is the opinion of the author, and is in no way intended to be a recommendation to buy or sell any security or derivative. The author holds no position in $TGIF