It has taken C two years and 4 months to finally trade above $50 (since January 2011) I used to follow C in the pre-split days when C traded around $5. I said I would not post until C traded above $5. (now $50 after the 10/1 split) That day is today !!
I agree with your post. Softbank could increase their offer or another "player" could come into the picture. My hope is that we will see $7.50 in the very near future. (I still can't believe we are at $7+. I remember a day when S went from $2.12 to $2.21 and I was very pleased!)
Weren't you a "strong sell" when S was trading under $2.50? In the highly unlikely event that the Softbank deal fails, then S could trade as low as $4.50. (or lower) However, the Softbank deal is, most likely, going to be completed in the next couple of months.
Do you have anything positive to say about Sprint?
1) Sprint had over $9 billion in revenue last quarter.
2) Sprint is closer to completing its new network.
3) Sprint will rid itself of Nextel this year.
4) Sprint has the only "unlimited" plan.
5) Sprint is trading at $5.87. (up from less than $2.20 in a year)
6) Spint is being bought by Softbank. (55% @ $7.30 and 45% for 30% of the "new" Sprint)
I could go on, but you get the idea...... Or do you ??
I also saw the $6.03, but I believe it was meaningless. The bid and the ask at the time were far below $6.03. However, I believe we will see a "real" $6.03, sooner rather than later.
First, and most importantly, the deal with Softbank needs to happen. If for some reason, the deal fails, S will almost certainly drop significantly in price. For those who have followed S, the price of the stock has fluctuated between $5.45 and $5.95 since the Softbank deal was announced last fall. The downside is limited based on the deal which includes $7.30 in cash for 55% of Sprint stock. The upside appears to be limited based on the uncertaintly of the valuation of "New Sprint" stock which will be issued when the deal with Softbank is finalized. Also, the uncertainty with Clearwire ( and the Dish offer) could be affecting the price of S. My belief is that S will break out of this trading range, hopefully in the near future. Sprint is the 3rd largest wireless carrier, it has money to complete its network, and it offers the only "unlimited" plan. I continue to believe in Sprint and find it hard to believe that we will not break above $6.00 for the stock.
IT'S ALL ABOUT PERCEPTION