It's Just a Walk in the Park Sown With Land Mines: Taking Stock
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Sahm Adrangi can tell you all about patience.
In January, the chief investment officer at Kerrisdale Capital said that Qualcomm would lose the Federal Trade Commission’s antitrust case, resulting in a halving of the firm’s licensing revenue, earnings and share price, and that he’s short the stock. Shares subsequently notched a 43% rise over the following four months. Then came the ruling from a California federal judge, which sent the stock 11% down in one session. Shares are down another 2.9% before the bell Thursday.