Cree shares rise on GE buyout rumors
Apparently, an unsubstantiated story ran on Bloomberg News that said that General Electric could buyout Cree, Inc. Evidentially, this rumor has come up before and honestly, with the jump of Cree, Inc stock by nearly 10% on the news, it wouldn’t surprise me to find out Cree starts that rumor themselves every now and then to boost value. Did I say that?!?!? Who was that masked man reading the Wall Street Journal? 
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September 6, 2007 at 9:30 am |
Cree manipulate their stock? They might have been motivated to do so a couple months ago when it was at 15. Now that they are at 25 or so, shareholders should be relatively happy.
I have been a Cree holder since shortly after the IPO, and it has been a wild ride. Remember when Eric Hunter accused the company of illegal activity? Remember when LED sales slowed?
I really do not think management has the time or inclination to try and manipulate the stock price. Their focus is on growing the comapny.
September 6, 2007 at 11:09 am |
Dear Walt
Thanks for taking the time to leave a comment (See all you readers out there, it doesn’t burn or cause strokes when you leave comments
)!
I’m sure they (management) are. I love Cree myself and anything that increases their value is OK with me, they’re one of our bigger suppliers. It was really just a joke on my part and what I meant was that in today’s ultra-competitive LED market and with businesses more and more willing to do whatever it takes to gain an edge, it wouldn’t surprise me if it came out that Cree started the rumor. I wasn’t suggesting that I felt they had done so.
Yes the Eric and Jocelyn debacle back in 2003 was a strange chapter in Cree’s history. Thank goodness that there was no merit to their lawsuit. I wonder what Eric and his wife are up to now? hmmm….