- Aug 10, 2006
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Originally posted by: AnonymouseUser
<div class="FTQUOTE"><begin quote>Originally posted by: Lothar
<div class="FTQUOTE"><begin quote>Originally posted by: cheezy321
Yeah, I tried to short RIMM, and it didnt work out as well as I had hoped. Thought people would begin to sell once all the good news about PALM came out. Guess not.
Still up 5% tho.</end quote></div>
Hehe...
Their share price just rocketed up 17% to $192.23 in after trading.
I'm not a fan of shorting stocks, but Palm "seems" like a better stock to short than RIMM IMO...
They are more likely to lose marketshare from AAPL than RIMM is. The iPhone is no business friendly phone.
With regards to RIMM, I would never think about shorting it...I wouldn't go long in it either.
It's about time they get a stock split too.</end quote></div>
I actually did short RIMM before their last earnings release. I think I broke even overall, but last time I covered was @ $140 and haven't even considered shorting it again. I did consider buying some today based simply on the recent trading activity, but alas I didn't.
This stock split may be the main reason it's up so much in after hours trading, but could very well signal the top for RIMM....
Yeah, I remember you making a profit from your short.
I think you were successful because their stock had a sharp drop from $150 to $130 due to Blackberry service being unavailable in the US for almost 2 days in March/April or so.