This post was just published on ZYX Buy Change Alert.
AT&T (T) is long from $32.40. AT&T stock is trading at $33.85 as of this writing.
A major risk event is ahead. T wants to buy Time Warner (TWX), the parent company of CNN among others. The Justice Department has challenged the buyout in court. The court will render its decision on June 12. The probability is about 70% that the Justice Department will lose. However, court decisions are extremely difficult to call.
If the court rejects the challenge, T has the potential to move up to $38 to $41. On the other hand, if the buyout is not approved, the stock can easily fall to $26 to $28 range.
Investors have three choices based on the risk tolerance.
- Take partial profits on a 15% tranche and hold the remaining 20%.
- Do nothing.
- Take profits on the entire position and exit.
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