Research In Motion Ltd. (RIMM) Has Hit Its Peak
Shares of BlackBerry maker Research In Motion Ltd. declined Thursday, yielding to what one analyst suggested were worries that broader economic concerns could affect the company, as well as profit taking.
Waterloo, Ontario-based RIM fell $6.94, or 6.3 percent, to close at $103.01. In the past year, the stock has traded between $39.91 and $137.01.
Pacific Crest analyst James Faucette said in a phone interview Thursday that investors are generally concerned that larger economic issues will affect the company.
"Most people that work in financial services have BlackBerrys, and the feeling is if people in financial services -- because of the credit crunch and everything else that is affecting banks -- are unable to upgrade (their smart phones), then that could hurt Research In Motion's outlook," he said.
Waterloo, Ontario-based RIM fell $6.94, or 6.3 percent, to close at $103.01. In the past year, the stock has traded between $39.91 and $137.01.
Pacific Crest analyst James Faucette said in a phone interview Thursday that investors are generally concerned that larger economic issues will affect the company.
"Most people that work in financial services have BlackBerrys, and the feeling is if people in financial services -- because of the credit crunch and everything else that is affecting banks -- are unable to upgrade (their smart phones), then that could hurt Research In Motion's outlook," he said.
Labels: Research in Motion Ltd., RIMM
posted by Stock Administrator @ 7:15 AM
0 Comments:
Post a Comment
<< Home