Simply put, you don’t mess around with the folks that butter your bread. And investor’s are both the butter and the bread to Carbonite, a very successful computer backup giant that also happens to sponsor the Rush Limbaugh show. Or scratch that, Carbonite used to sponsor Rush. After SlutGate, they pulled back riding a wave of liberalicious angst.
And their stock performance proves the wisdom of that move was well, nonexistent!
Since the market opened on Monday through its close today, Carbonite stock (NASDAQ:CARB) has plummeted nearly 12 percent, outpacing the drop of the NASDAQ index in that same time period by nine-and-a-half points. It was also one of the biggest decliners on the NASDAQ on Tuesday.
Lesson? Stay out of culture wars. Understand who your customers are and what they believe. Otherwise money will be lost as folks flee to more like minded shores. As well they should.