Shares of Research In Motion (RIMM) Hit Intraday Highs

July 5, 2012 1:21 PM EDT
Get Alerts RIMM Hot Sheet
Price: $14.64 +12.36%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Shares of Research In Motion (Nasdaq: RIMM) have tapped intraday highs, currently at $7.72, up $0.37 (+4.97%).

The recent Q1 earnings miss led Wall Street firms to cut their respective ratings, estimates, price targets and so on. With the company's financials solidly in the red, and the stock price continuing to fall, some firms began calling the decline a 'death spiral'. The stock was trading in the mid-$10 range, but slipped down to about $7.35. Although, looking at a 1-year chart, shares have fallen from around the $30 range. With the cash burn rate speeding up, subscribers continuing to jump ship and another delay in the 'saving grace' launch of BB10, there doesn't look to be any hope.

However, Tuesday, Hudson Securities upgraded the stock from Neutral to Buy. The few remaining 'possible' positives are: 1) RIMM gets acquired; 2) cut more fat in the restructuring (recently announced 5K job cuts); 3) Sell some patents or take on new platform; or 4) BB10 is a game changer when finally launched.

Currently, StreetInsider list of Wall Street firms show 5 'Buy' ratings, 31 at 'Hold', and 16 with a 'Sell'. To see the complete list, Click Here

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