Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



St. Joe Shares Popped: What You Need to Know

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Florida developer St. Joe Company (NYSE: JOE  ) jumped as much as 12% in intraday trading as investors reacted to the possibility of Bruce Berkowitz becoming the company's chairman.

So what: There's not much to say here besides "wow." If there were pay-per-view events in the investing world, St. Joe would be a main event with all of us investing die-hards forking over $49.95 to watch legends Bruce Berkowitz and David Einhorn face off. On the long side of the tussle is Berkowitz, and he's looking to take his St. Joe board membership to the next level by grabbing the role of chairman, a position that would give him considerably more control over how the St. Joe story plays out. Investors today are obviously hopeful that he can not only win the chairman seat but also help reverse the market's doubt about St. Joe's future.

Now what: Berkowitz currently owns 30% of St. Joe's shares, and mutual fund big boys BlackRock (NYSE: BLK  ) and T. Rowe Price (Nasdaq: TROW  ) -- along with four others -- control 40% more of the company. That means that Berkowitz's push for the chairmanship looks very promising.

But does this mean it's lights out for Einhorn and his bearish bet? I wouldn't be so quick to call this one. If Einhorn is correct that St. Joe's land isn't worth nearly what the company claims, it's not going to matter who's chairman -- eventually reality will trump hopeful accounting. In the meantime, though -- even if you're not interested in jumping into the fray yourself -- I'd suggest pulling up a chair to watch this clash play out. No matter who wins, it's going to be a thriller.

Want to keep up to date on St. Joe? Add it to your watchlist.

BlackRock is a Motley Fool Inside Value pick. The Fool owns shares of T. Rowe Price Group.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policyprefers dividends over a sharp stick in the eye.

Read/Post Comments (1) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On February 07, 2011, at 2:46 PM, shaman84 wrote:

    Hey you won,t to buy some swamp land,with real alligator with names like pogo , i have seen the enemy and he is us.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1436931, ~/Articles/ArticleHandler.aspx, 10/27/2016 8:50:16 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,169.68 -29.65 -0.16%
S&P 500 2,133.04 -6.39 -0.30%
NASD 5,215.97 -34.29 -0.65%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/27/2016 4:02 PM
BLK $340.28 Up +0.13 +0.04%
BlackRock CAPS Rating: ****
JOE $17.55 Down -0.30 -1.68%
The St. Joe Compan… CAPS Rating: **
TROW $63.83 Down -2.52 -3.80%
T. Rowe Price Grou… CAPS Rating: *****