BALTIMORE, Aug. 24, 2023 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ: MKTW) (“MarketWise” or the “Company”), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today issued the following statement in response to F. Porter Stansberry’s letter to the MarketWise Board of Directors (the “Board”), dated August 11, 2023 (the “August Letter”):
The Board takes seriously our obligation to serve and protect the interests of MarketWise and all of its shareholders. As part of this responsibility, the Board engages with the Company’s shareholders and welcomes constructive feedback focused on maximizing shareholder value.
Our previous attempts to engage with Mr. Stansberry have been met with his disparaging statements about the Board, the Company, and management. The Board has made decisions with the best interests of all shareholders in mind. We are both concerned and dismayed that Mr. Stansberry continues to knowingly assert fabricated allegations.
We understand that some shareholders are frustrated. But we are beginning to see the benefits of the Company’s responsive actions with the recent stabilization in results. Investments in our core business are resulting in better content that is resonating with our subscribers. Further, cost efficiency measures have gained traction: We generated 18% more cash flow from operations so far in 2023, compared to the same period in...
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