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BlackBerry Limited Message Board

  • jxkchicago jxkchicago Nov 19, 2012 8:16 AM Flag

    Joelew - why is rimm going up everyday?

    Shorts covering?

    Sentiment: Strong Buy

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    • Here is my theory. There aren't that many shares floating and shorts are cashing in. I also believe that with Prem et al controlling so many shares he can manipulate the share price anywhere he wants to now. Exactly the same way that JCP was being manipulated by Ackman after they reported awful earnings and the stock rose. When you have the shares and the CEO in the back of your pocket you can make a killing through selling options and manipulating share price. Also, with RIM having their most critical launch in history, they need the stock rising and not plummeting. They have already announced that their will be limited advertising so the last thing they need is the stock in the sewer and trumping their news stories.

      Just like JCP, the fundamentals will eventually rule the day and the stock will reflect that. RIM's fundamentals will be awful this quarter and even worse after the Playbook phone is proven to be a failure in the market.

      • 2 Replies to joelew111
      • The answer is simple Joe, the shorts have to buy and are under more pressure to do so, as the price rises.
        People/firms are buying because they see a recovery, strong or disappointing, is only a few months away and if it's successful, their gains will be large if they buy now.
        Even if BB10 disappoints in the market, the stock will likely never drop back down below $10-12 range and they will lose little.
        Personally I see a range for RIMM between $12=$20 by April/May next year.
        Cheer up, you're not losing a lot of money here so drop the bearish view of RIMM

        Sentiment: Hold

      • Wow! It is truely sad you are not believable. Anyone with an ounce of intelligence understands bb10 will be successful.

        Continue bashing as I have naked calls I need to cover.


        Sentiment: Strong Buy

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