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!


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!