Blackberry at $100 a share

BlackBerry’s stock got halted after the company just announced it’s entered into an agreement to be bought out at $9 a share. That’s probably going to drive speculation that there could be some activist shareholders and/or another consortium that would look to take it out and that makes $9 a bottom level here. (And by the way, if you’ve got an iPhone or an iPad be sure to check out the best app for traders and investors — my recently acquired Scutify.com‘s Scutify app. You get real-time tweet feeds, news headlines, videos and blog posts all aggregated into one simple layout and much more.)

You want to know how TRULY WORTHLESS TRYING TO INVEST/TRADE off mainstream news headlines? Take a look at this screenshot –

A mere 34 minutes before the company announced it was being “taken out,” there goes the headline about how Wall Street thinks its unlikely that the company would be taken out. Sigh.

The point is, this is the end of the road for the BlackBerry BBRY -2.69% bears and shorts like me. I bought some short term Blackberry puts last week, writing, “The company’s still doomed, as I’ve been saying and writing since we first got short this thing back above $100 a share a few years ago. (See Investment lessons and a short idea from PALM from April 12, 2024 for example)”

I’ll be selling the last of my BBRY puts tomorrow after this news settles. There’s no sense in trying to hope that a deal falls apart and there’s no sense in holding out til after the next earnings report, no matter how bad the guidance might be. Take your profits as a short and move on. And if you’re a long-suffering BBRY long shareholder, take the bid you’re gonna get when the stock re-opens and move on. There’s a whole App Revolution Stock Bubble happening, creating billion dollar companies like Yelp, Zillow, Facebook, and LinkedIn while destroying Blackberry’s business that you can still get on board with at some point.

And don’t forget to download Scutify.com‘s Scutify app and let me know if you think it’s the best app ever for traders and investors or not.

Cody Willard writes Revolution Investing for MarketWatch and posts the trades from his personal account at TradingWithCody.com, which is not affiliated with MarketWatch. At time of publication, Cody was net long LinkedIn, Facebook and net short Blackberry. Follow Cody on Twitter at twitter.com/codywillard.

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Cody Willard

Founder, CEO & Chairman at Wall Street All-Stars, LLC

Cody Willard is the founder of Wall Street All-Stars and the principal of CL Willard Capital. Cody serves as an adjunct professor at Seton Hall University and writes TradingWithCody.com. He was an anchor on the Fox Business Network, where he was the co-host of the long-time #1-rated show on the network, Fox Business Happy Hour. He wrote a monthly investment column for The Financial Times as well as columns for TheStreet.com and was a regular guest on CNBC’s Kudlow & Company from 2004 to 2006. Cody’s stock picking ideas and economic outlooks have been featured on NBC’s The Tonight Show with Jay Leno, ABC’s 20/20, CBS Evening News, CNBC’s SquawkBox, Jon Stewart’s The Daily Show, as well as in the Financial Times, Wall Street Journal, New York Times, and many other outlets.

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