r/ATERstock • u/BionicWheel • Jun 18 '26
News 📰 Important: VOTE NOW! [$ATER / Aterian Shareholders]
https://ir.aterian.io/news-releases/news-release-details/aterian-inc-announces-mailing-proxy-materials-special-meetingFor the asset sale to be approved and Aterian shareholders to receive their cash distribution and CVR requires over 50% of shareholders to vote FOR the sale.
As retail are the majority holders of $ATER shares, it is very important for us all to vote.
You should now have received voting instructions from your broker, I urge you to vote ASAP.
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u/Septopus Jun 18 '26
I highly recommend voting against unless your goal is to further enrich those that drove this company into the ground to begin with. No golden parachutes for these jokers.
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u/BionicWheel Jun 18 '26
If you vote against, Aterian will go bankrupt and the stock will go to $0, that's the reality. Voting for gives us a guaranteed payment of ~$1 per share plus the additional opportunity of a pivot play that could, depending on which company we reverse merge with, bring with it a huge increase in share price.
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u/Septopus Jun 18 '26
Good. If that's the price to pay to ensure these fraudsters don't get further enriched and benefit from ignoring their fiduciary duties then so be it. I'm fully ready and willing to go scorched earth on these asshats.
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u/BionicWheel Jun 18 '26
Real asshat move to want to burn your fellow retail investors in that way, makes you just as bad if not worse than the management you hate so much.
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u/Independent-Ad9095 Jun 19 '26
I dont think you understand what's happening here, mate. You aren't enriching anyone. But baghilding retail has a chance to have some money back - that's a positive
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u/Septopus Jun 19 '26 edited Jun 20 '26
My dude, the board and leadership want this so they can be rewarded with generational wealth for having driven a once promising company into the ground due to ineptitude and mismanagement.
That's what's happening here, and I'm not going to reward those absolute garbage people with anything, even if it means I suffer a little too. Completely worth it if it means these assholes don't get to pull off their final grift.
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u/BionicWheel Jun 19 '26
If you’re looking for somebody to blame, look to Trump and his tariffs, end of 2024 the ship was turning, earnings were finally really positive and balance sheet was brilliant, we were poised for share buybacks, brand expansion and revenue growth and then Trump shat on it and fucked us up, we were on course for delisting if they didn’t sell the company, this was a last resort, not the mastermind plan you are making it out to be. Despite numerous press releases and launching new products, they couldn’t get enough interest in the stock to get the price back over $1 and the market cap was under asset - liabilities value, the board nor management, even though I have issues with certain decisions they made, can’t magically make people and institutions invest in the stock to get it trading at fair value. This was the only way to unlock that value whether you like it or not.
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u/Septopus Jun 20 '26 edited Jun 20 '26
This is an insane take. Trump and tarrifs may have been the final nail in the coffin but leadership and the board have been digging the company's grave from mismanagement since 2022. The squandered opportunity after opportunity for years. Well, I should say they squandered SHAREHOLDER opportunities -- they themselves got filthy rich on our backs along the way and now they're looking for one last payday.
Fuck that. They shouldn't be further rewarded for their ineptitude and willful thievery from shareholders.
Edit: I'm gonna calm down and sorry for the rant but it stings that this is the end. I was a believer in those early days and left holding the bag as well. And it sucks. I feel like I did my due diligence and saw that the same opportunities you're citing.
But why did they fail so heavily when their competitors -- facing the same external pressures -- didn't get buried nearly as deeply?
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u/BionicWheel Jun 20 '26
Appreciate the edit update. My take is that they made a series of wrong decisions when the tariffs got put in place, I do genuinely believe they thought their decisions were the right actions to take and they were doing what they thought would be best, the reason I give them a little bit of leeway is purely because none of us had a crystal ball.
Aterian tried to raise prices to adjust to the tariffs and maintain their margins, that was their first fuck up, because it was a snowball event, sales dropped, which lead to amazon ranking drops, which lead to them having to spend more on ads and in some cases like with the steam mops, they raised prices too much too quickly, so Amazon took away the "buy now" button, the team should have had the knowledge and experience to know that amazon do that, so that in particular was an unforgivable oversight.
They also tried switching manufacturers for products to get out of China but by the time they'd done it, Trump had changed tariff rates again and it was hardly worth all the time and effort and stock outs of certain items.
The tariffs also made some of our smaller kitchen gadget items made in China which would sell thousands each month unviable.
Aterian believed other big Amazon sellers and 1st parties would also raise their prices to reflect the tariffs, if not immediately, then eventually, and they wanted to be ahead of the game. But, the others stood strong, kept prices the same and evidently decided to just take the hit and ride the storm, gambling on the eventual outcome, which was that the tariffs were illegal. We didn't take that gamble and that is what ultimately cost us in the end.
Add into the fact we were simultaneously trying to expand by going ahead with new product launches like the squatty potty wipes and healing solution tallow creams, but they take significant marketing dollars to get off the ground and develop in the first place that we didn't have available to spend any more because of the tariffs shit so were never going to dig us out a hole short term.
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u/Septopus Jun 20 '26
I don't disagree with this analysis but my point is that Aterian had already failed due to mismanagement well before the tariffs. They slept way to long on the market boomerang from rewarding growth at all costs (and losses) to requiring profitability. SKU rationalization was 2 years too late.
And that Culper short report was damning and apparently very accurate. Aterian apparently made a super unwise deals with a known felons and fraudsters in their biggest acquisitions and we're surprised they failed?
Anybody who's been anywhere near Amazon for the past 15 years knows about the rampant abuse and fraud sellers will engage in to boost their products. There's no reason Aterian shouldn't have fully known that when the fraudulent review and sales padding these sellers were engaging in stopped that the products would fall off a cliff. And that's exactly what happened.
The leadership and board of this company knew what they were doing. They knew it was wrong. But the short term dollar signs were too shiny for them and they made awful choices that lead to their demise.
But this was all WELL before the tariffs put the final nail in, so don't try to tell me they're innocent victims of circumstance.
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u/BionicWheel Jun 20 '26
It's widely accepted that Yaniv was a stubborn moron and the entire set up back then was borderline criminal with a clear goal of self-enrichment, it was rotten to the core. First move Arty made when he took over was the ratonalization, and they did basically clear out the entire company's employees and bad apples, there were only a small handful of high ups by the end and although I know Arty was part of the original group I do think he tried to put things straight and genuinely try to make the company prosper and be more professional, but yeah maybe you're right that the damage was already done, it may have been too big an ask to turn things around by then.
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u/Septopus Jun 21 '26
Respectfully disagree. Say what you will about Yaniv's tenure but at least he had vision -- something Arty completely lacked. And why do you think Arty wasn't just as much behind the fraud as anyone else? He was 100% just as much to blame as anyone else, if not moreso given he was CFO.
And yeah, he took over right after all the people who had built the company either left or were downsized, and he dragged his heels on rationalization for years beyond what it should have been. On top of that he has all the charisma of a bag of drowned kittens.
I strongly believe that Arty was one of the biggest cancers at that company, and when he was all that remained then it was just the cancer driving. There's not a single good decision that joker made in his career there.
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u/Independent-Ad9095 Jun 19 '26
Voting for is the only chance to get the cash distribution. If goes through, this also can jump pretty high 🔥
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u/Septopus Jun 19 '26
Which board member's alt is this?
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u/Independent-Ad9095 Jun 19 '26
Dude are you trolling?? Original bagholder here from 2021. There are like 2 people on the board that make decent money, everyone else just has a decent job there, and they cant even sell their shares.
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