Glentel Inc GLNIF

Glentel up 12% today

[msillusion]

I assume the pop is related to iPhone 5 and the low liquidity of GLN traded on TSX. I read somewhere that GLN owned several stores selling Apple products. How do I verfiy?

[Robert40]

GLN owns 3 Apple Speciality Mac Station stores in Vancouver and samsung's first store in Canada (a silent parner) or secret canadian carrier as per links below. Store will be owned by Samsung it will be run by Glentel instead. Also TELUS is trying to copy Glentel's Academy (Learning Centre concept for sales rep) https://www.glentel.com/en/newsroom/news-releases/details.asp?NewsReleaseID

[ascii2]

Glentel has 543 stores. It operates 330 stores across Canada and 213 retail locations in the United States. https://www.glentel.com/en/ Except for 80 costco located Wireless etc stores it sales Apple products in nearly 420 plus stores. https://www.glentel.com/en/divisions/retail-division.asp https://www.wirelesswave.ca/rogers-apple-iphone-4s/ It sales Apple products for Rogers, Bell,Fido,virgin

[Tobuyornot]

Part of the pop had to do with the renewal of the Costco contract for 2 more years.  Nothinbg like a captive customer...

[msillusion]

That is part of the reason. Costco and GLN announced on Sep 13 the license agreement effective on Sep 2. The share price moved on Sep 14. Bbut the pop was on Sep 17 when Apple announced the pre-order sales and the launch date of iPhone 5  on Sep 21. 

[segltech]

In addition to what has been mentioned lately, they have 3 Apple stores in BC and also handle the popular Samsung phone at costco and all their other locations.They are grossly undervalued.

[PRObono]

Another reason why it's up is that they are selling the iphone in the last ten days of Q3 which will probably ensure they meet or beat analyst's expectations.  They will sell tens of thousands of iphones in these ten days.  Perfect timing!  Q4 should also be fantastic and if the US economy starts picking up even just a little, Diamond is well positioned to capitalize on that