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Friday, November 16, 2007

Garmin up 16!! As advertised!!

Yesterday, I said "Grab Garmin." Let me put it out here again:

Garmin (GRMN 85.60) is down 40 points from it's high, as the market is all worked up that GRMN will make a counter-offer higher than TomTom's bid for Tele Atlas. Rational? Not! At 2:30 a.m. this morning, Garmin and TomTom reached a global settlement on all their intellectual property litigation, and this morning, Piper came out with a call saying they felt that Nokia's deal with Navteq would now close. Which means that GRMN has reached a behind the scenes deal on maps without busting their bank.

What happened today? They announced a deal with Navteq until 2015 on maps!

4 comments :

Anonymous said...

Good time to buy puts on Garmin!!!

Anonymous said...

Short Covering on OPEX.

Palmoni said...

Don't buy the puts! Stock can trade up to 104 quickly-Option pressure kept the stock down on Friday. And the consumer, if he is weak, won't be known until after Black Friday-So the bulls have a free reign to pump the stock higher.

Palmoni said...

Garmin traded quickly up to 104!
As advertised!