that according to their "sources" several bidders had offered 1-2 B as bids for IDCC. That somewhat innocuous information was accompanied by heavy selling that took out stop losses/weak holder's before recovering towards the end of the day.
After that or towards the end of the day two analysts came forward to state that this information was not credible.They both stated the processwas in place and both reaffirmed a buyout price of about $118.
My opinion after talking with the author of the article is that he reported[supposedly] what he heard, but what he agreed with me is that they were "initial bids".If the bids are as stated they are unacceptable because they would be ridiculous,just given the fact that IDCC has $500M net cash,plus ongoing revs, and about 8000 more patnts in progress.
What i think really happened is that the shorts engineered a "bear raid" becaus the bids are coming,options expire this friday and without an announcement from the company they took advantage....Good buying opt...JMHO
10 days ago I wrote to IDCC to warn them about rumors and speculations that were undermining the share price.
The answer given then was completely unsatisfactory.
Given the nature of the bear attack we experienced yesterday I conclude that IDCC was and is ill prepared for these gross manipulations.
My point of contention is that it can happen again since there are still millons of shares short.
So I wrote again today trying to warn them.
I think it would be wise for other longs to write & let them understand that IDCC open the box of tools and be proactive until the auction or whatever this strategic process is called comes to a conclusion.
What happened yesterday shaved close to 1/2 billon in market value. It was quick, easy to set up, very cheap to orchestrate and very very successful.
If you don' t want more of that write or call them to get in shape. We will get attacked again, there are still millons of shares short that have to cover before the auction ends.
A blog? The Financial Times' premium ($20k per year) event driven news service is a blog? You really need to take off your blinders and see the road as it is. By the way, what is the DealReporter author's name? I know because I am a subscriber. Do you?
This was taken right off their website. How do you come up with the word reputable?? Read the paragraph below. Their main clients are the people who manipulate/short stocks the most. They aren't reputable, they are sleeping with the enemies! You really aren't as bright as you think you are. I wouldn't be surprised if you work for them.
DealReporter is tailored to hedge funds, proprietary trading desks, security lending, CB/Credit desks, equity derivatives desks, ECM/syndicate desks and institutional fund managers. dealReporter is part of The Mergermarket Group, a division of The Financial Times Group, a Pearson company.