Against the Grain: Sell RIM (RIMM) Into BB10 Event
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
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Research In Motion (Nasdaq: RIMM) has garnered some positive sentiment heading into the launch of its BlackBerry 10 operating system, rising over 50 percent since just the start of 2013.
Today, Citi is taking the opposite stance on RIM, suggesting to sell the stock into the actual release of BB10. The firm cited lower service revs as well as continued pressure from competing devices as two key reasons behind the call.
Citi made some checks at the CES 2013 show in Las Vegas earlier in January. The firm averred that companies like Huawei, ZTE, and others are going to debut appealing devices at attractive price points.
RIM is expected to launch the new operating system on January 30th. Most U.S. carriers and several large retailers have already signed on for the launch.
Ahead of the bell Wednesday, RIM is indicated for a higher open.
Today, Citi is taking the opposite stance on RIM, suggesting to sell the stock into the actual release of BB10. The firm cited lower service revs as well as continued pressure from competing devices as two key reasons behind the call.
Citi made some checks at the CES 2013 show in Las Vegas earlier in January. The firm averred that companies like Huawei, ZTE, and others are going to debut appealing devices at attractive price points.
RIM is expected to launch the new operating system on January 30th. Most U.S. carriers and several large retailers have already signed on for the launch.
Ahead of the bell Wednesday, RIM is indicated for a higher open.
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