PennOnStagwell

CEO of Stagwell, Inc.

[PennOnStagwell @PennOnStagwell]

This is the place investors and others will find my commentary on the marketing and tech businesses and on developments at Stagwell.

[PennOnStagwell @PennOnStagwell]

Major new addition to our team started today Slavi Samardzija, a major catch from Omnicom and Wpp to bolster our data strategy and execution. This comes on top of first client demonstration of new ai platform built with Palantir.

[PennOnStagwell @PennOnStagwell]

All you need to know about the economy

[PennOnStagwell @PennOnStagwell]

Congrats to new ceo of wpp chosen from the wpp board! Also great experience at Microsoft in helping to sell software to businesses that should prove invaluable in this industry. No captain of wpp was harmful to the entire industry so great the gap is filled with a dynamic leader.

[PennOnStagwell @PennOnStagwell]

Wpp
Wpp is reeling today from lack of leadership while Stagwell leadership has been reinforced and strengthened with promotions for key executives who have doubled down on the Stagwell vision!

[PennOnStagwell @PennOnStagwell]

Advanced the executive team. Welcome Ryan Greene at cfo, Frank Lanuto at evp, finance, Jason Reid as CSO and Niels Lauberg at CIO!

[PennOnStagwell @PennOnStagwell]

Self driving cars

Musk is right that the future of his company is not in new models but in the self-driving feature getting across the finish line.
A month ago I stopped driving my car. Now my car drives me. His software is truly advanced and on the verge of hitting its goal.

[PennOnStagwell @PennOnStagwell]

Rebalancing
Looks like the Russell 2000 rebalancing is done and about 6 million shares traded on Friday. Looks like maybe a good day for the Russell

[PennOnStagwell @PennOnStagwell]

Lots of volume still
Bankers tell us the Russell 2000 will need over 20 million shard to balance us in the index on June 27th. That’s what I’m hearing — we will see what happens.

[PennOnStagwell @PennOnStagwell]

Stagwell’s major marketing experience of the year — Sport Beach — was a huge success on all fronts this year.
See this story for the details.

https://t.co/TAoZ9CPYtw

[PennOnStagwell @PennOnStagwell]

Hey a lot of buzz around rfk jr eliminating dtc pharma ads. Could happen.
But Stagwell SOLD our dtc pharma division to Accenture two years ago. We do NO such advertising (and can’t) so expect that to be another Stagwell advantage in the marketplace!

[PennOnStagwell @PennOnStagwell]

Two amazing days at Stagwell Sport Beach with over 5000 marketers have participated including our major client partners in a smash celebration of sports, marketing and technology.

[PennOnStagwell @PennOnStagwell]

No idea
What Friday’s trading was about — we are not tied to the price of oil that I know of.
But arrived here in Cannes at Sport Beach for our premier event of the year with an incredible line up of athletes and clients and over 5000 marketers signed up to visit.

[PennOnStagwell @PennOnStagwell]

Stagwell Marketing Cloud

Today the Stagwell Marketing Cloud is rebranded to The Marketing Cloud and The Marketing Cloud Platform is open, bringing together the various products into a single user platform so they can be sold and used in bundles. See the https://t.co/7LwjIbS1jm

[PennOnStagwell @PennOnStagwell]

Watch tomorrow for some important new tech announcements from Stagwell.

[PennOnStagwell @PennOnStagwell]

Wpp
Really puzzling move at WPP announcing Mark Read “stepping down” with no successor announced when they are experiencing major client losses. Right before Cannes.

Smells like opportunity for Stagwell and others…

[PennOnStagwell @PennOnStagwell]

Another day of strong volume and liquidity. One of our directors filed a Form 4 with some significant purchases (over 600,000 shares). I am just back from a week drumming up business in the Mideast with visits to clients in both Riyadh and Tel Aviv.

[PennOnStagwell @PennOnStagwell]

Hmm STGW volume up
Reports from our bankers indicate that the weighting in Russell 2000 and 3000 is due to go 3x on this late June rebalancing which means they need about 18 million shares of STGW

[PennOnStagwell @PennOnStagwell]

ADK Closed

Stagwell has closed the ADK transaction on June 2, increasing our APAC regional headcount to over 2,500 and adding 12 offices across 10 countries including Thailand, India, Vietnam, Singapore, HK, Malaysia, and Aus. Stagwell now has a complete offering in APAC.

[PennOnStagwell @PennOnStagwell]

Freak out today on ai advertising by Meta even though the story said it was for SMALL and mid-sized accounts not the kind of complex multi platform accounts holdcos like us handle. AI is coming but it’s a boon not a threat to Stagwell