You guys, writing is on the wall. Softbank wants MM....
1) Luo bought 6.1% of the stocks.
2) Softbank essentially owns Sprint.
Most Chinese investor and business operators have close ties to Japanese investors (i.e., Alibaba and Softbank). News leaked out that Softbank was working something out with MM, so guess what, Chinese investors like to make money (like everyone else) and so Luo placed the bet before it all becomes too clear.
MM is going to run up massively.
If this puppy goes down again, I am going to scoop up a boat load. Good luck to all longs.
As I have said many times here before, Luo's move is brilliant. If you want to buy out stock XYZ, which is currently priced at $7. You can buy shares of that stock personally, or your company can propose a buyout. If your company proposes a buyout, certainly XYZ won't accept $7 a share, maybe $10 or $12. Why not buy up everything you can at $7 and clear the 40%. Very few people in the world have the coin to do this, but if you do, it makes a ton of sense.