Lame RIM ‘Upgrade’ Worth Weight in Gold (RIMM)
Research In Motion Limited (NASDAQ: RIMM) was a part of daily analyst upgrades and downgrades this morning and it is rather amazing. Goldman Sachs raised the rating on R-I-M from “Sell” to “Neutral” this morning. What is ironic is that…
Research In Motion Limited (NASDAQ: RIMM) was a part of daily analyst upgrades and downgrades this morning and it is rather amazing. Goldman Sachs raised the rating on R-I-M from “Sell” to “Neutral” this morning. What is ironic is that “Neutral” is usually deemed “Sell” when analysts downgrade a stock from Buy or Overweight. This call could have been called “From Really Bad to Mildly Bad.”
Still, RIM is up almost 3% at $19.67 on more than 3 million shares in the first 10 minutes of trading, and this is on a morning where stocks are broadly lower.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
