S was down over 6% yesterday. According to news reports, this was due to the possibility that Dish may buy T-Mobile and the combined company would be more difficult for Sprint to compete against. Really, 6% !!! This proves my point that:
IT'S ALL ABOUT PERCEPTION
This 6% downward move is ridiculous based only on a potential T-Mobile merger. It ruins my S $5 June calls, but that's another matter. Regardless, I just don't understand how the market could (over) react to the merger news like it did. Oh well, life goes on.
Look, I like Sprint and I think it is undervalued. I have been watching and waiting for the stock to reflect my belief in it. Regardless, S is (finally) trading at $4.70 again. I hope it is the beginning of something....something good....