Yeah, but the float has been reduced by about 100 million shares in essence. PW is not selling, so those are pretty much locked down and I think 30-50 million is pretty significant.
My gut says Watsa might be done buying. Clearly he has had an interest in depressing the share price. He has bought hand over fist the last few months and now has control of 25% of the company. When the convertible debt kicks in, the percentage will increase. Everyone is predicting doom and gloom on the 20th...and maybe that is the case...but wouldn't he of waited to buy until after the ER? Also, these guys are ridiculous when it comes to creative accounting. He can easily make it look better than it is, price rockets up, shorts cover, debt converts and buy JC more time.
Break out the champagne..
Chen is busy actually running the company. Good stuff is starting to happen if you read between the lines. Its so hard to be patient, but do you want him spending all his time trying to reassure investors or actually out there reassuring clients and building the biz? Prem keeps buying, so no rush to reassure investors until he has as many shares as he can get his hands on cheap. That's the one scary thing to me is he could test everyone's resolve by letting the PPS tank to keep buying shares. I hope at some point soon he feels good about the 100+ million shares in his back pocket and wants to make a run to convert the debentures.
Why would you even make a statement like this? I am totally serious....why? You know there is no chance of this happening, right? So why?
This is my point from another thread though. Assuming he continues to buy, based on his last filings, he is slowly buying the company well below the $9. He has little to no motivation to stop the bleeding until he decides he is happy with his stake and wants the additional shares at $10. If he can't sell for a year, there is no rush to get the share price to $10 if wants to continue to accumulate. This seems very obvious.. It does look like they are working towards building a better blackberry, but unless you have a year and whole lot of pain tolerance, it may not be worth it. I am down 100k right now and just lost on what to do.
Or he keeps buying shares down here and won't be motivated to try and change the narrative until he decides he is done buying. He buys another 10% of the company, own about 25%, uses some creative accounting and it flies to 10...then he gets another 20% of the company and his cost basis is below 10. Then he tries to sell it for 13+ and he makes over 30 percent. That seems like a better deal than trying to just recover his money through BK.
I keep reading about the tax selling to offset gains...but what about the shorts selling to offset losses? I assume the majority of big shorts have lost their #$%$ on other stocks, so won't they want to cover at some point this year? Considering this argument from shorts, it must apply to the other side as well...right?
I think you are missing the potential biggest bomb shell....unlocking android on the new OS. I have some close tech friends who say that could be a legit game changer.
My gut says we get good news shortly after the FF/BB deal gets locked in and he gets his vesting option on the bonds or breakup fee. To much protective language to dismiss anything at this point. One of the biggest selling tactics is the takeaway. Once the buyer has made the mental leap that they want it, this motivates them even more to pursue what they want. We will see. I am long, but have come to terms this is all over the place and now to expect the unexpected.
I have no idea why Google wouldn't do this. By offering $12 a share, selling the real estate and BBM, wind down the HW..by doing a little work, they get the patents for free....Crazy.
Why does BB need to stay in Canada? They should leave if the govt doesn't provide something to offset their decision. Just sucks... I will never invest in another Canadien company