Don't know if you guys noticed, at 1pm today someone purchased about 2.2 million, 2 million and 0.5 million shares. These 3 transaction seems to be 3 minutes apart. Just kind surprised no news related to this. Anyone curious?
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Don't know if you guys noticed, at 1pm today someone purchased about 2.2 million, 2 million and 0.5 million shares. These 3 transaction seems to be 3 minutes apart. Just kind surprised no news related to this. Anyone curious?
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Yup. Someone's got brass....
It wasn't me.
But it's certainly interesting. Who throws that kind of money at a company that is supposedly circling the drain?
Swyped in Tapatalk
There is a seller you know
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Supposedly?
Shorts covering?? There are 130M+ more to cover
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Maybe Mike bought some more?
But it does look like someone who has a lot of confidence tho
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If it's a covering, one would imagining it would be a little low profile than this, after all, shorts wouldn't want to drive up the price.
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And the price hasn't risen.
Cerberus buying up a bunch of stake low before takeover. ;)
But it did spike driving up the price they paid for the later shares, particularly the 0.5 million. If they were looking to cover that would have eaten into profits a bit :p.
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its could be someone looking to get a quick return on the stock if Fairfax goes through and purchases the common shares at $9 per share. And since it was such a small time frame the stock prices didn't get to spike on that one buyer... all speculation btw
How do you know it happened?
You can see block trades. I still think it was institutional short covering. It really didn't move the shares that much. Probably Goldman covering at a client's expense. wink, wink.
Exactly, buy the shares a lower price than expected buyout figure, you make a profit.
Similar to buying shares before a dividend is declared, collect the dividend then sell of the stock to buy the next round.
Circling the drain? What a looser comment that is.
Maybe those wanting to join the class action
For months it is battle among shorts. They keep shorting and coveribg often. Most big longs sold long time ago or still holding till end. In this process retails get slaughtered as they get sucked into trades and lose either way
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It was me. Ok. Mystery solved
BlackBerry Z10.
It was Thor selling
Q10 running10.2.1.641 leak and loving it!
A trading desk crossed a bunch of stock. It happens all the time. Impossible to say if it's short covering, who the buyer and seller was, etc. Just remember that someone sold all this stock, just as someone else bought it. One person betting against, one person betting on BlackBerry.
Just to put this in perspective, for a $1 billion fund to take a 1% position in a stock that's $10 million. So for someone to buy / sell $40 million of stock is no big deal for any fund managing a few billion bucks.
Chris Umiastowski!
short covering
not necessairly betting on imo.. especially if it is a short covering. the roi for the short is probably too low given the current price to net assets and there might be better opportunities elsewhere.
It shows strong confidence in Blackberry. Maybe they know something that we don't.
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