Samco Securities gets Pitchfork Partners on board to navigate strategic communication

Samco Securities, online discount broker, has signed Pitchfork Partners Strategic Consulting, a strategic advisor, to provide them with direction on their communication campaigns to support their ambitious growth plans.

Jimeet Modi, CEO, SAMCO Securities, said: “We are delighted to have Pitchfork Partners on board as our strategic communications partner. We are positive that their expertise will play a pivotal role in the success of our communication agenda. We have aggressive growth plans and we need a partner who can work as our extended team to create communications and public relations strategies that defy norms. We look forward to a long-lasting affiliation.”

Sunil Gautam, co-founder, Pitchfork Partners Strategic Consulting, said: “We are excited about our association with Samco Securities. We are impressed with the company’s growth; they have done phenomenally well in a short span of time. It shares a unique proposition with its differentiated offering of simplifying the intimidating experience of trading and investing in stock markets for Indians at an affordable cost. We are looking forward to merging our wealth of experience and expertise with the business goals of our new partner to create a strategic and insight-driven communication that resonates with the brand’s target audience.”

The multi-national company that has lost $100 billion in market cap this year

General Electric Company has lost about USD 100 billion in this year. The company which has interests in manufacturing to oil to software had a market cap of USD 279.55 billion at the end of 2016. Its valuation plunged to USD 180 billion, witnessing a massive drop of over 35 percent YTD.

The company which is listed on New York Stock Exchange, lost about 13 percent over the week, owing to a lower than expected quarterly earnings, reported on October 20. The last week was company’s worst performance at stock market since the recession of 2008-09. That means, the company and its investors lost USD 26 billion in five trading days.

The newly appointed CEO John Leonard Flannery Jr. termed the quarterly result which shows the biggest earnings drop in 17 years as “completely unacceptable”.

“It’s also clear from our current results that we need to make some major changes with urgency and a depth of purpose,” said Flannery who joined the company in August. “Our results are unacceptable, to say the least.” Investors are also bracing for a possible dividend cut, which if happens, will be a first since 2009.

 

The company also adjusted its earnings estimates between USD 1.05 to USD 1.10 a share, a drop from the previous estimation of USD 1.60 to USD 1.70 a share.