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BlackBerry Shares Crash Back To Earth After Company Denies Samsung Rumor

Tyler Durden's picture




 

In October, BBRY shares spiked (and dumped) on rumors that Lenovo had made an offer. Today, after a detailed report from Reuters explained that Samsung executives had offered to takeover the troubled phone-maker (or whatever they call themselves nowadays) and the stocks spiked up nearly 40% - perfectly running stopw through the mid-Nov highs and squeezing shorts out of the market... and now - after hours - BlackBerry issues a statement denying the whole thing... rigged much?

 

  • 1543ET - *BLACKBERRY RECENTLY APPROACHED BY SAMSUNG ON TAKEOVER: REUTERS
  • 1543ET - *SAMSUNG PROPOSED PAYING $13.35-$15.49/SHR FOR BBRY: REUTERS

As Reuters reported,

Samsung Electronics Co Ltd (005930.KS) recently approached BlackBerry Ltd (BBRY.O) (BB.TO) about buying the smartphone maker for as much as $7.5 billion in a play for its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.

 

South Korea's Samsung proposed an initial price range of $13.35 to $15.49 per share, representing a premium of 38 percent to 60 percent over BlackBerry's current trading price, the source said.

 

Executives from the two companies, which are working with advisers, met last week to discuss a potential transaction, the source said, asking not to be identified because the conversations are private.

*  *  *

And then... at 1730ET

BlackBerry Limited (NASDAQ: BBRY)(TSX: BB) ("BlackBerry") is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry's policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.

  • *BLACKBERRY AWARE OF REPORTS ON POSSIBLE OFFER BY SAMSUNG
  • *BLACKBERRY NOT IN TALKS WITH SAMSUNG

 

 

* * * Seems like basically every two months someone uses some pseudo-relevant media outlet to pump and dump BBRY shares... paging the SEC?

 

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Wed, 01/14/2015 - 18:48 | 5662259 DavidC
DavidC's picture

Getting more and more ridiculous every day.

DavidC

Wed, 01/14/2015 - 18:49 | 5662273 Soul Glow
Soul Glow's picture

I'd like to announce I am buying Blackberry at $100 share. - Janet Yellen

Wed, 01/14/2015 - 18:53 | 5662278 Jlasoon
Jlasoon's picture

Thank god I studied at a fine institution to understand this madness. NOT!!!!!!

 

No wonder my charts don't make sense. 

Wed, 01/14/2015 - 19:13 | 5662372 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

One rumor and a bankster trader's bonus is fulfilled. Disgusting!!

Wed, 01/14/2015 - 19:39 | 5662475 Publicus
Publicus's picture

My condolences on the author's losses from shorting blackberry.

Wed, 01/14/2015 - 21:35 | 5662917 max2205
max2205's picture

I am sure the SEC WILL BE RIGHT ON THIS.

What's the difference in ICANN TWITTING SHIT? NOTHING!

Wed, 01/14/2015 - 18:53 | 5662280 0b1knob
0b1knob's picture

It's obvious that racism plays a part here.   If the company were called WHITEberry it would have been more sucessful.

Wed, 01/14/2015 - 18:48 | 5662266 Cognitive Dissonance
Cognitive Dissonance's picture

That's what I call a round trip. Was it good for you too?

Wed, 01/14/2015 - 18:51 | 5662270 Soul Glow
Soul Glow's picture

It'll be good for me when this god damn thing dies.

Wed, 01/14/2015 - 19:41 | 5662486 UGrev
UGrev's picture

QNX (BB10): The best operating system for mobile devices on the market and you want it to die? Are you stupid on purpose or by accident?

Wed, 01/14/2015 - 22:24 | 5663116 pods
pods's picture

Samsung wanted QNX to disable all the warnings about what permissions android apps wanted.  That is some scary ass shit!

Would you like to allow <insert app> to have access to your first born?

pods

Thu, 01/15/2015 - 00:17 | 5663483 UGrev
UGrev's picture

Which is EXACTLY why you should dump EVERY FUCKING ANDROID phone you own in the fucking river and never look back. Android ENABLES companies to steal your life. In fact, they bet on it heavily.  

Wed, 01/14/2015 - 22:36 | 5663165 A Nanny Moose
A Nanny Moose's picture

QNX is definitely high speed low drag, compared to typical monolithic kernel OSes (Linux, BSD, and Windoze). It is also inherently more secure because its kernel doesn't need peripheral drivers. Perhaps Sony should by Blackberry to protect against those crafty DPRK hackers?

FWIW: Ford, at one point, was supposedly dumping MS Sync for QNX.

http://www.computerworld.com/article/2488011/mobile-wireless/why-ford-is...

Thu, 01/15/2015 - 00:17 | 5663478 UGrev
UGrev's picture

They DID dump MS for QNX, and Mercedes is now QNX, Bentley..  and so are several other high perf car manufacturers

Wed, 01/14/2015 - 18:56 | 5662287 NoDebt
NoDebt's picture

15 minutes to the close.  Amazing.

Could the SEC at least TRY to look like they're going after people who do this kind of stuff?  I mean I could probably figure out where this one started myself.  

No?  Ok.

 

Wed, 01/14/2015 - 19:30 | 5662439 cossack55
cossack55's picture

If the SEC TRIED to do their job once in a while, the next chart posted on ZH would be the tanking of the Porn industry.

Wed, 01/14/2015 - 18:57 | 5662294 Callz d Ballz
Callz d Ballz's picture

Hey look, a rainbow!

Wed, 01/14/2015 - 18:57 | 5662296 economessed
economessed's picture

Also on the list of things that will not be happening:  they are not coming out with a small high-definition video camera that can be used to record people doing sporting activities.  They are not coming out with a wrist watch-style techno gimmic with a full qwerty keyboard.  They are not coming out with a drone that will deliver hand-written messages when texting just won't do.  And finally, I hear that they will not be the preferred developer of the nav and communications platform in the 2016 Tesla's.

 

The nostalgia for Blackberry is falling faster than Mary Jo White's wrinkled face.

Wed, 01/14/2015 - 18:57 | 5662300 SloMoe
SloMoe's picture

I'm in talks to buy blackberry juice. Very good with vodka....

Thu, 01/15/2015 - 00:54 | 5663561 Ginsengbull
Ginsengbull's picture

Mexico has lots this time of year.

Wed, 01/14/2015 - 19:04 | 5662327 papaswamp
papaswamp's picture

Wow they didnt even give people a reach around after banging them in the ass..... Selfish bastards.

Wed, 01/14/2015 - 19:03 | 5662332 Kamath
Kamath's picture

So, Reuters has officially become a joke.

Wed, 01/14/2015 - 19:12 | 5662364 Bunga Bunga
Bunga Bunga's picture

BlackBarry that is racist, isn't it?

Wed, 01/14/2015 - 19:20 | 5662400 Lax Accounting
Lax Accounting's picture

LMAO Denninger's little fantasy world just popped

Wed, 01/14/2015 - 20:25 | 5662651 H H Henry P P P...
H H Henry P P P Paulson's picture

Just don't tell him that on his website or he'll ban you for making a personal attack.  The guy is getting more crazy every day.

Wed, 01/14/2015 - 22:19 | 5663106 pods
pods's picture

Bring on the reds but he is damn right when it comes to the OS.  

It just does what it is supposed to do. Which in today's world means it will be relegated to "has been" status.

Pretty happy with mine.

pods

Wed, 01/14/2015 - 19:23 | 5662414 Gringo Viejo
Gringo Viejo's picture

We've become a nation with trickle down criminality thanks to the wall st./washington axis.

How this ends is as plain as the back of your hand.

God help us...though imho, as Don McClean said, "they caught the last train for the coast"........

Wed, 01/14/2015 - 19:33 | 5662450 What is The Hedge
What is The Hedge's picture

Correction Tyler: Here's the exact quote, below. It does not say "not talking," as you've written. It says not in talks to sell the company. Maybe just a piece is for sale. We'll have to wait.

"has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry."

Wed, 01/14/2015 - 19:45 | 5662507 UGrev
UGrev's picture

KNOX took a dump beacuse samsung couldn't pull it off on a shit OS; Android is a shit OS with major privacy issues. 

The fact that Samsung rumors on buying BB drove this stock up is enough for me to bet hard on BB taking a shit on Android and iOS. Clearly, the market knows what a better OS is but is unwilling to embrace it for fear of being the "black berry".. pun intended. 

Wed, 01/14/2015 - 20:40 | 5662702 Tapeworm
Tapeworm's picture

I took a flyer on 7000 BBRY at 6.505. I wish that the rumor had held up for a little while longer. Snooze, ya lose.

Thu, 01/15/2015 - 00:15 | 5663474 UGrev
UGrev's picture

I just stayed long. I think they will eventually bubble back up to the top if not in mobile spaces, overall software security spaces. That being said, they are the only company with the patent on ECC as well the only company with the technology for hardware phone encryption.  Also, just ask SONY what phones they pulled out of the closet after they got hacked.. HINT: It wasn't Android or iPhone.. 

Wed, 01/14/2015 - 23:03 | 5663257 zeronero
zeronero's picture

Stock will shoot back up tomorrow. There's more to the story. Now that it's in play there will be multiple offers, all above the Sammy price.

As is usually the case, Zero Hedge did Zero due diligence on this story. It's not manipulation. You idiots think everything is manipulation. It's not morons. 99% of the time the story is the story. You just can't deal with reality because your reality is bleak and hopeless. It must really suck to be both poor and stupid. I guess if that were me I'd make up stupid conspiracy stories too. 

 

Thu, 01/15/2015 - 00:40 | 5663520 David Wooten
David Wooten's picture

Never believe a rumor until it is officially denied - in this case after the NY markets closed.  Reuters is still standing by the original story.  If it is true, BBRY trading might be halted tomorrow until the sale is announced.

Thu, 01/15/2015 - 00:59 | 5663570 InanimateCarbonRod
InanimateCarbonRod's picture

Gee..with opex on friday...hmm....hey, regulators, why dontcha check out the call option activity?  

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