Maybe I can become a "Seeking Alpha" star!! I think I would tend to put a little more time into research before publishing something under my name. Frankly though, I have such a low opinion of Seeking Alpha that there is no way I could ever write for them.
Trending up on "no news" that the company is selling bunches of real estate. Word of that must have been leaking out for weeks... and especially the last few days.
OMG! If they sell it all at approximately market prices, the company will have about $13-15 per share in cash against debt of roughly $1 billion (that's about $2 per share). Oh wait, they still have patents and the business! Looks like the bankruptcy theory is off the table.
One says that JCP will be the biggest turnaround story in 2014. The other says that the cash will run out due to slow pace of the turnaround. That's just like Cramer talking out of both sides of his face! These sites must value providing content over consistency. How can I get a job writing for them?
Thanks. BBRY is okay. JCP will swing around after earnings surprise to the upside.
The bond offering was pushed on the company by Prem Watsa when he was "representing" both sides. Selling real estate and leasing back only what they need is simply good business practice. It is a way of unlocking value when Wall Street is overlooking it. Some folks on this board have been pushing that idea for many months.
That real estate was purchased 20 years ago. It is possible the value has increased since that time and the book value is no longer accurate. Market value is higher... but you know that ;)
Issued a ton of debt? LOL! Borrow a dollar of cash, add a dollar of debt to the balance sheet. The net is a wash. If you had taken any business classes while getting your Liberal Arts degree, you would have known that info. You get demoted back to private.
Probably up on news of selling the real estate. Anyone with a brain (that means shorts are out) can figure that the real estate is worth almost $8 per share. A sale raises the cash for use elsewhere. It will take a while but it will happen.
Insider trading only happens in movies, right? It wouldn't happen in real life would it?
I promised not to fill the board with posts as the stock price moved up through $6, $7, $8, $9, $10. I am a my of honor. I've kept my promise. One post (such as this one) doesn't constitute "filling the board".
Thanks for the daily bragging about your profits. Now go back to your blowup girlfriend and your matchbox cars.
All those bashers saying the real estate had no value. I suspect that is the news that has been leaking the past few days and causing the stock to jump on "no news". HAHAHAHA. Shorts are toast.
Gosh, at least one of the Blackberry poster has for months been talking about the company having valuable real estate holdings. Numerous bashers took pot shots at that poor guy. Now the company comes out and says it will divest it's real estate. The stock is jumping after hours. My guess is that this is the news that has been leaking for days now and smart investors have been acting on it. LOL. Shorts are toast.
Micron had reasons to go up. It bought Elpida out of bankruptcy for pocket change (after fluctuations in the currency values). It did a deal with REX. Also, Hynix (a big competitor) had a fire at its plant. Micron increased capacity right when supply dropped. Amazing timing. Don't know what Blackberry will do to top that. After all, BBRY is up roughly 80% from the low six weeks ago. I still say BBRY is a value play on the value of its assets. Another $3-5 from here at least.
If you get rid of all the customers and get rid of all the employees, you still have cash, patents plus real estate worth about $13-15 per share.