OpenAI's C-suite is emptying faster than a Robinhood account during a margin call. Investors are supposed to get excited about buying into this thing. The talent is sprinting toward the door and the finance guys are calling it a huge red flag. They needed analysts to tell them that.
The company wants to go public. The executives want to go anywhere else. This is the business equivalent of a restaurant where the chef quits mid-shift and some guy in a suit tells you the kitchen is still open for reservations.
Retail traders will line up anyway. They always do. These are the same people who bought Peloton at $160 because they thought everyone would ride a stationary bike forever. They'll see OpenAI on the ticker and remember that ChatGPT wrote their cover letter once. That's DD enough.
The IPO pitch writes itself. Give us your money while our leadership team actively f*cks off to literally anywhere else. Trust the vision. Ignore the fact that the people who built the vision are currently updating their LinkedIn profiles.
C-suite turnover is normal, they'll say. Companies evolve. People move on. Sure. People also move on from burning buildings. The reasons matter.
But technical analysis says none of this matters anyway. Draw your lines. Find your patterns. The fundamentals are irrelevant noise. Whether the executives stay or bail, whether the company makes money or lights it on fire, the chart doesn't care. Support at $0, resistance at whatever number makes retail traders feel smart for five minutes.
The mammoth IPO will happen. The warnings will be ignored. Six months later someone will write an article titled "What Went Wrong" and the answer will be in this headline. It always is.
The executives saw the future of the company and chose unemployment instead.
Photo by Nick Fewings on Unsplash
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