Only 460 million $ left.
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Jana made a big bet and lost big time. They sure unlocked that "value" and it immediately ran away.
http://www.businessinsider.com/jana-partners-sells-majority-of-qualcomm-stake-2016-2
The scramble to the life rafts has started.
A vote of confidence
This doesn't really mean shit. Last time I checked, $460million isn't chump change. A fund manager probably redistributed and diversified their holdings to meet its prospective's objective.
this just means company is not worth investing anymore, they are part of the board they know better than everybody what will happen.