Hey gang, welcome back to another edition of Lock on Stocks. Hope you all had a great week so far and an even better weekend. I cannot wait for this weekend being that it is St. Patrickâ€™s Day and I happen to be Irish. I do plan to start the â€œfestivitiesâ€ off bright and early Saturday morning at 8am. I hope you all have a great weekend as well but please keep it safe!
Okay, on to the stocks.
RIM rebounded quite nicely from last weeksâ€™ issues. The Red Pearl is officially announced and more photos of the 8300 have been released. This new has rounded off RIMs stock at roughly $137 a share at the time of this writing.
The 8300 keeps making appearances. BG had recently released a couple of photos of the 8300 side by side with an 8800. These photos were posted on his site at 2:45pm EST yesterday. The stocks jumped at the time of the posting. A pretty noticeable jump at that. I never want to hear anyone say that these leaks donâ€™t affect the stock price ever again. Itâ€™s very apparent that it does.
The spike you see labeled as â€˜Aâ€™ on the graph is the result of Vodafone and RIM announcing that the Pearl and 8707v will be launched in Bahrain.
What you donâ€™t see on this graph is on March 12th RIM and AT&Cingular introduced the Red Pearl. Rumors have been abundant regarding whether or not this would be released and it wasnâ€™t until March 8th that it was all but confirmed by an official Cingular document.
The official announcement from RIM and Cingular (theyâ€™ll never bee AT&T to me) booted the stock up about half a dollar per share. Looks like Wall Street was just as excited about this one as I was â€“ which is not at all.
It has been a pretty slow week for RIM as really the only other news to report on that affected the market in any way was more aftershocks from the RIM Scandal that blanketed last week. Information Week is reporting that though the scandal may have cost Balsillie his chairman title â€“ more importantly it really affected Research In Motions market momentum.
Also though some believe the duo in charge may be in the clear after their quick mop up – $250 million dollar restatement of past earnings and $5 million a piece towards an investigation, a lawsuit may soon come from The Ironworkers of Ontario Pension Fund.
Weâ€™ll keep you posted with what comes from this. I believe that will end up settling out of court as well, however hopefully weâ€™ll find out for sure.