BlackBerry Ltd T.BB

From: Yasch22 at ST

[dwolfenson]

Yasch22 8:04 PM

 

$BB That Dorsey Gardner is a cranky piece of work, no guff. His latest letter sounded awfully familiar, so I hunted up two of the letters he wrote back in 2020. See for yourself. Even back then he was strummin' his old banjo on how Watsa was planning to buy out BB on the cheap, how he got the unbelievably unfairly high rate of 1.75% for his loan of $330m, how the $6 conversion price was a gross undervaluation ... and yet here we are, with interest rates north of 5%, the share price under $5 US, and Watsa still hasn't seized control. It all begs these questions: (a) Why didn't he just buy BB back in 2013 at $9/share for $4.7b? (b) Why didn't he just buy BB in spring of 2020 when the share price dropped under $3? Gardner's missives: August 25, 2020: newswire.ca/news-releases/c... Sept. 2, 2020: newswire.ca/news-releases/t...

[Yesch22]

First, too toot is a coward, he retreated from his stronghold here because his claims all came to naught. Secondly and my final and most damaging point against all comers using this latest claim by too toot as good information... Watsa and Fairfax cannot sell BB as part of their agreement to gain the Debenture funding.  Debentures had no ability to trade hands nor could they be sold until

[Hedgetrimmer]

Wouldn't it be something if a good chunk of the BB Detractors aka trolls are paid by this man along with the chance that some are Gardner himself. I think someone suggested that last part a year ago here. Sure there's some shorters in there also. Regardless of any chicanery, it appears the overall underlying sentiment for most of them is that BB should either be worth a king's ransom

[dwolfenson]

BINGO. I believe you're correct in that it's a mix, but being paid for, at least in part, by the gardener. I further believe it's more vendetta for past Watsa issues (law suit comes to mind) than any reasoned practicality. I mean, if you believe your 5M share foot garden is going to grow by 300 - 500% over the next 12 - 18 months then maybe keep your trap shut and reap rewards. 

[Joey67]

What the f**k do you need to wonder.  How about Chen reports some actual growth instead of bullshi* excuses and more kicking the can down the road.   Revenues are still in decline which is embarrassing given the fact that cyber is the second hottest sector on the planet after EV's.  Chen has no clue how to manage. He purposely tanked cylance to ensure Watsa gets his $6

[Hedgetrimmer]

Found an archived 1991 NY Times article re Dorsey Gardner. He was 49 at the time. From what I read it appears not much may have changed but is there evidence of his MO in this forum? The reader will ultimately decide so here goes...hope this works. https://www.nytimes.com/1991/01/27/business/fidelity-s-secret-agent-man.html

[Hedgetrimmer]

Looks like it doesn't work but if you search Google diligently you may find it and be able to open it...I did. Maybe someone can help, not blessed with internet skills