Shares of RIM (RIMM) Break Below $8, Down 5% Over Last Hour
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After holding above an important level Friday afternoon -- and continuing higher Monday morning -- shares of Research In Motion (Nasdaq: RIMM) are now plunging under the $8 level. The stock is now down 3.5 percent to $7.82.
Shares traded to a high of $8.32 earlier, up about 2.7 percent from Friday's close, but began giving up gains as investors sold above $8.25. Downside in the name has intensified as the price has pushed below the 50-day simple moving average.
The stock is now trading just above where it was following a Q1 miss on June 28th.
Shares traded to a high of $8.32 earlier, up about 2.7 percent from Friday's close, but began giving up gains as investors sold above $8.25. Downside in the name has intensified as the price has pushed below the 50-day simple moving average.
The stock is now trading just above where it was following a Q1 miss on June 28th.
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