Jim Cramer, the Red Bull powered, screaming host of CNBC’s Mad Money recently had something to say about RIM’s stock. The analyst is recommending that smart stock market jockeys trade for some RIM stock soon to make some fast money.
“Trade”, you say? Don’t you mean “invest”? Well, no actually. Let’s have Cramer break it down:
Ah, my friends, this isn’t an investment — it’s a trade! Of course you don’t want to hang on to RIM for a year; the stock is a darned roller coaster. But if you own it for a few months, you could probably make a lot of moolah.
Cramer’s reasoning is that RIM’s stock — which has been battered by poor quarter showings and the NTP lawsuit — has already dropped as much as it will, because market analysts can’t hate it any more than they already do. However, Cramer believes that when Verizon finally begins to sell a BlackBerry 8700 in their stores (probably starting some time this summer) the stock will begin to get a better buzz, and that’s when it’s time to sell. Cramer also recommends caution for those looking to buy any RIM stock before June 29th, when RIM releases its 1st quarter earnings.
To read the rest of Jim Cramer’s thoughts, go here.