I can tell you what is wrong with Apple today. It won't stop going up. AEA shorted starting at 523 and is shorting all the way up.
AEA will end up winning even on those trades as they eventually win almost everything.
Prem Watsa has an average buy price for the shares at about $17 if I recall correctly. He does not want to see this investment go lower than that, imo.
John Chen is a genius and will turn this thing around in a couple of years.
I agree. It sounds like something is already in the works and that is why they want to abandon the sales process.
Fairfax doesn't really want to let BBRY go through a fire-sale and now that they have the willing buyers setup, they can structure it to be sold off in pieces at much higher valuations.
By hiring former Sybase Inc. CEO John Chen, BlackBerry Ltd. has turned to the type of leader it probably should have hired when co-CEOs Jim Balsillie and Mike Lazaridis decided to step down in late 2011.
Mr. Chen’s biography looks much like a checklist of experiences one would look for to take over a once-mighty tech company that has fallen on hard times and needs a radical reboot. The passage of nearly two years and further deterioration in the business during the brief tenure of his predecessor Thorsten Heins makes his task that much more challenging. Mr. Chen rose from modest beginnings to become a successful Silicon Valley senior executive, an accomplished turnaround artist , and a director of major Fortune 500 boards with powerful connections in Washington D.C. – and a deep knowledge of China. He also found success for Sybase by correctly foreseeing the coming growth in mobile communications in the late 1990s and positioning the company as a leader selling business services into that market.
Mr. Chen’s success at Sybase earned him appointments to the boards of Wells Fargo & Co. and Walt Disney Co., as well as the board positions with the New York Stock Exchange and several tech stargups. He was also appointed by U.S. president George W. Bush to serve on the President’s Export Council and and was made co-chair of the government’s Secure Borders and Open Doors Advisory Committee. He is also a trustee of the San Francisco Symphony, the Brookings Institution and CalTech. He has long played a senior role in building relations between the U.S. and China, serving as a member of the “Committee of 100” a group of high-level Chinese-Americans, and winning accolades and awards for his work, including making Forbes’ magazine’s list of the Top 25 Notable Chinese-Americans in Business.
Your 580K shares may not be looking good in the short-term, but in the long-term, you should be good.
You are a brave soul. I hope this works out for you. You called the halt this morning. I had no idea it would drop like a fruit fly prior to the halt. I say you may get a $8 buyout by Prem. Indians always land bargains on large deals.
Why would you stay short with only $7.77 left? I do not understand that as well. $7.77 seems like a lucky number. You stand to gain more long than short now.
It's back to 8.04. If Fairfax does not secure financing and no other bids materialize by 5PM EST, then we may get another buying opportunity. Let's hope for a bidding war today. Time will tell...
You have a lot on the line on this one. And so, good luck to you...
I've dealt with China personally and I've learned that if you give them $100, they feel as if they have received $600. And so, your money goes a long ways there. Cost savings are astonishing...
If the shares dip, be a buyer on the dip because even if a deal is not done, BBRY will be worth much more than it is now as the company gets back on course without the large labor overhead.
Hang on tight to your BBRY. You will be bringing Christmas home to your family early this year. When potential bidders own a large number of shares themselves, they will strategize to maximize their own wealth. The average investor like you may only hold 1 - 10,000 shares, but they own millions. The fat cats always get their cheese.
If they didn't think they would get their premium cheese, they would have sold off their shares and you would have heard about it all over the Internet. Until the fat cats sell, don't sell your shares. Don't worry about the tiny fluctuations in the daily stock price. A deal will ultimately happen.
Do you guys know that the deadline for competing bids to the FairFax deal is Monday, Nov 4th. If no bids come by then, FairFax will likely acquire BBRY.
And so, flying out to Facebook so close to the deadline has to mean something. Either Facebook expressed interest or BBRY is desperate to find a buyer besides FairFax.
This will play out sooner than later in my opinion. For any company truly interested in BBRY, a bid has to be submitted very soon. Zuckerburg can make anything happen. He has a billion eyeballs at Facebook. It will be interesting to see if he will actually submit a bid.