Activist investor Loeb thru Third Point has taken a new position in Symc. I'm sure he has done his homework and figures that there is hidden value there. Such involvement certainly can't hurt the long suffering shareholders. cheers
The guy might not be that brilliant since papers indicate he bought in the 3rd quarter, which means odds are likely he's already at a loss. And Symantec is only one of many holdings in the small fund.
Expect lots of media hype and desperation in the days ahead, there are people loosing their tails right now who literally GAMBLED on Symantec in the high teens.
Shares will head lower yet before (if) they make any sustainable reversal, and they still remain a solid point over-inflated relative to the broader market.
When Loeb took a stake in Yahoo stock was $14+. Now....$18. His presence alone makes management take notice. I say higher in the next two months. (Stock currently at $17.44) We shall see.