Yahoo Finance Classic Comment of the Week: RIMM

Jun 18, 2011
J. Webster
Comments Off on Yahoo Finance Classic Comment of the Week: RIMM

The Yahoo Finance classic comment of the week comes from the message boards for none other than Research and Motion, otherwise none as the ticker RIMM.

There are a lot of shareholders who are suffering, understandably, as is just three months the stock as gone from $60 a share to under $30. The hope for RIMM now is they will get a buyout offer from Microsoft or maybe even Google. However, what with Microsoft recently buying Skype for $9 billion I don’t think they’re ready for another big purchase. We strongly empathize with this shareholder but also know that the lines told the story for RIMM months ago:

“My son sells at a wireless solutions store. The brands is Verizon. I am not a techy but he tells me people hate blackberry phones etc as they can not hold a candle to the technology and applications of an i phone or other like type products. Blackberry is no longer need , as the new phones by others can be used in the corporate area and for home use. The two modes of use are meeting in the middle where as specialty devices for corporate use will be no longer. AND what schmuck in RIMM decided to create a product (notebook) that you have a hassle getting your e-mail on????Further , the application that will connect you to your e-mail is not even in place yet. Are these people crazy???/ Just so you know, my ax to grind is that i’m long at $90… and stuck.

I am seriously thinking of selling out and going all in on SIRI I have bailed out of many many losses in the past 3 years on SIRI. Good luck to all”

What is probably the best advice is to slowly sell out of the RIMM position on any big pops. The wrong thing to do is panic though, as other message boarders say in the thread, he should discuss this with his broker and proceed cautiously. Sometimes, when you’ve taken a big hit, you try to make up the loss by doing more reckless trades. Buying SIRI doesn’t seem like the right think to do. This is too rash.

To me, there should be a bounce in RIMM, to where and how long it will hold is the big question. For now though, I just don’t see all the lawyers and other businesses abandoning their Blackberries yet. There is that nickname for RIMM’s phone, the Crackberry, remember.

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