Volume Spike: Research in Motion (RIMM)

Posted in General 
December 3rd, 2008

Research in Motion Ltd. (NASDAQ: RIMM) is trading down about 6% pre-market to around $35.30 on over 150,000 shares as of 7:37 AM EST.  It seems that woes of Palm Inc. (PALM) after its own warning are not isolated.

The maker of the Blackberry smartphones lowered its revenue projections down to a range of $2.75 to $2.78 billion, lower than the previously range of $2.95 to $3.10 billion.

Oddly enough, RIMM was not participating that much in rallies over the last ten days.  This may mark 52-week lows as the 52-week trading range was $35.76 to $148.13.

Jon C. Ogg
December 3, 2008

Comments are closed

-->