Another RED Day Around the World Looks like oil prices dropped again, so the market will be painted red again.
Hopefully Chen-Blackberry are buying the maximum amount of shares they are entilted to buy each trading day at these historic lows.
Again, as a Blackberry Long, I welcome the SP going lower in the short term so that we get the lowest possible price to continue buying back shares and reducing the float. I know some people want to hit the panic button. That's your fault. The SP dropping is not a Blackberry problem. It's a world market and tech market problem.
The silver lining is that Blackberry got permission to buy back even more shares. Those shares are being bought back at record lows. This will help all Long-term investors down the road. It reduces the float and increases the earnings per share for upcoming quarters.
I just hope Blackberry is buying the maximum amount allowed.
I hope that Chen maxes out the total amount allowed (22+ million shares) and that he requests that Blackberry is allowed to buy back even more in the future once they buy back the current maximum.
This is the first time that I have actually wanted the SP to continue going lower.
LOWER AND LOWER PLEASE!!!
Holding LONG.