APPL is coming with IPhone 5 tomorrow, Nokia is releasing their new phone with W, RIMM financials are coming on Sept/27 and we know they will not be good, 3 negative reports in the last 2 days recommending a sell of the stock...
In normal circomstances all these actions will tank any stock, yet RIMM gained 15% in the last 2 days on heavy volume. I can't dicount the fact that some developpers may like the BB10 and buying the stock but the volume tells me it's not retail investors but institutional buying, what do they know that I don't ?
Are those reports being put to keep the price low or are they being put by shorts who are getting squezed,as of end of last month more than 3.4% or the float was in short position even though it was reduced from previous months?
Any comments appreciated
My thinking is that the bet is that the iPhone does not provide anything dramatically new thus providing an opportunity for RIM to somewhat catch up in Q1-2013. If the iPhone has features that make BB10 seem totally ancient then stock may tank.
Do you mean features like a tall, skinny screen and 4G? Because that's about all she wrote for that dog! LOL
No, RIM is clearly moving on from Apple and giving consumers what they have been waiting for since 2007.
just desperate guys who who missed on nokia 80% up and buying rimm on hope to see an up-swing @rimm :)
what they miss is:
- rimm is not selling anything at the moment (just go to your phone store and ask how many bbrys they sold last month..)
- they have announced the next q is gonna be dismal
- bb10 is not there yet
- iphone5 is coming
- nok is coming with a whole suite
- samsung is coming with a whole suite
- htc is coming with a whole suite...
..did i miss anybody? :)
so imo the chance for bbry to grow from here is minimal
it will go significantly lower before anybody serious would be interested in them
see you at 4
good luck everybody
There were also 2M shares traded in the first twenty minutes of trading this morning, and above average volume in the last few days - yet no news. I'm guessing a few MM's got a sneak peek into earnings, and are covering and/or buying before an upside surprise is announced. Slick, you've mentioned that MM's will move the stock wherever they need it to be. I agree. That said, the short side is very crowded so anything positive could easily move the stock over $9.
RIMM short interest end Agust was just shy of 90mm shares .. about 17% of the shares issued.. since about half are in strong, low turnover hands, the %age of free float is actually 34%... NOT 3.4%... as AAPL moves down, RIMM moves up.. maybe tomorrow with the launch there will be a reversal of fortunes..
I wish i had a crystal ball, but the only answer i can give you is, a combination of short squeeze and lets get the stock sold before iPhone 5 comes out.
You can not hide from the fact, that Apple is dominant, in every aspect.
1) No pre-announcement, i.e. cashflow will be fine.
2) Carriers having a positive reaction and will support BB10. Remember - their margins suffer due to iphone. They'd love BB10 to get hot.
3) The more people who see and use the phones, the more REAL it becomes. i.e. It is not vapourware. Also, most people are positive about what they've seen (except some analysts who are like a broken record. These are the guys who wanted you to buy RIM at $75, but sell it now. Geniuses).
4) Majors are sniffing around RIM for possible takeover/joint ventures.
5) Shorts are covering and will look to re-enter their short positions after earnings.
If RIM is not going to run out of money, and they are drawing nearer to putting out BB10 each day, then why in the world should this stock still be in the $7's or lower? We are only a few months away from ramping up the excitement. Every day we are reading more and more about BB10.
We're only back to $7.50. I think we see high $8's or $9+ on Sep 28th.
I warned shorts. The opportunity to cover cheap has just passed them by.