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behindthebid

Sell Broadcom on this Symantec Acquisition, $20B Down The Tubes

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Broadcom Inc. (NASDAQ:AVGO)  
behindthebid  
NASDAQ:AVGO   Broadcom Inc.
Beyond Technical Analysis Fundamental Analysis semiconductors cybersecurity merger acquisition mergers acquisitions rumor rumors shortsell
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beyondta fundamental semiconductors cybersecurity merger acquisition mergers acquisitions rumor rumors shortsell
Bloomberg broke the news on Wednesday July 3rd, 2019 that Broadcom is in talks to buy struggling Symantec. This is a terrible idea on many fronts and $AVGO closed down 3% on the news. I believe that investors do not want this semiconductor company to waste $20 billion on a cybersecurity company (and why pick the one that seems to be struggling the most?). Certainly makes sense that we head lower over the next few days/weeks.

A few references:
AbbVie buying Allergan - stock closed down 15%
Salesforce buying Tableau - stock closed down 3% (but it hasn't dropped further)
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