It's not like BlackBerry has been keeping it a secret that it's for sale Even so, whether anyone thinks the company should fetch $10, $12 or something more doesn't matter. If no one steps up in the next six weeks, this company will go for $9. Nine bucks. This is a company that had an $80 billion market cap in 2008. A $9 deal would give it a $4.7 billion valuation. For a company that has more than $2 billion in cash, that's nothing.
But if that deal falls apart, the stock will quickly drift lower toward those cash levels. To get long now makes little sense. The upside is limited, and likely will be only about $9, tops. If the deal does fall through, the stock will go lower in a hurry. With the stock fading from that $9-level as we speak, the market may be suggesting it doesn't fully believe that a deal will get done. At the time of publication, the author was long Apple.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell