RIM (RIMM) Squeezes Higher Following Post-EPS Fire Sale

December 26, 2012 10:05 AM EST
Research In Motion (Nasdaq: RIMM) is punching higher amid a recent increase in short interest on the company.

According to the latest market data, short interest rose from 104.2 million shares in the middle of November up to 113.7 million at the end of last month. Days to cover just about halved to 1.98.

Shares held short are about 23.5 percent of float.

Though RIM has been on the rise over the last few months, investors heeded a little caution following its quarterly report last Thursday night. Amid other bits of information, RIM emphasized that its fiscal fourth quarter would be challenging due to consumers holding off on handset purchases into the launch of BB10.

Shares are up 5.4 percent today on solid volume. It also appears that RIM is bouncing above the 50-day SMA, currently calculated at $10.16.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Technicals, Trader Talk


More anti-RIM bias.
PAUL DOBRIN on 2012-12-26 17:42:31
Mark as Spam | Reply to this comment

Why use the word squeezes? This implies difficulty. It implies it slipped through something. And, what's this with "amid other bits of information? Are you implying that they were juicy and there's a whole lot more of them you're just not going mention. Sorry, I think you're summering from RIM-phobia and while I sympathize I also don't appreciate it.

Translation needed here.
mele@technitrader.com on 2012-12-26 13:13:01
Mark as Spam | Reply to this comment

Hi Mele, when you got time for this could ypu please translate the 6 first lines of this article in English please. Until further notice I intend to position trade stocks instead of options in 2013. Reply via my montero01@rogers.com address if you will. Thanks. Pierre.

Add Your Comment