Submitted by The Standard06.27.2008
Thunderdome
Loading...
Categories
Betting closes on Dec 31 2008
Well, we saw RIM stock fell more than 12% this week on a disappointing profit outlook for BlackBerries. It wasn’t exactly a surprise – check out this quote from a WSJ article before the earnings announcement:
“With shares of Research in Motion up 150% over the past year, investors are saying there is almost nothing that can trip up the fast-growing BlackBerry maker. The problem with that: RIM's business is getting riskier every quarter.”
It's funny, we were even pondering putting forth a prediction that the stock would fall to as low as $125 on the Nasdaq and we would have been close – it got as far as $125.33. It’s also amazing what a penny short will do to a company these days!
Nonetheless, CEO Jim Balsillie was clearly feeling bullish on the earnings call, as are some industry analysts, in particular with the coming arrival of the Blackberry Bold, and Google’s recent Android delay announcements. Canaccord Adams analyst Peter Misek has set a target of $225, positing that Q2 investments will ultimately pay off in the long term.
This is a prediction that shares of RIM will reach at least $180 at some point before the end of the fiscal year. That is, the high between now and December 31, 2008 must have been at least $180. We’ll close betting on December 1.
Current Community Consensus 16%Prediction Statistics
| Betting Closes: | Dec 31 2008 | Current Consensus: | 16.11% | Total Bets: | 22 |
| Today's Change: | 0% | ||||
| Life Time High: | 48.75% | ||||
| Life Time Low: | 14.80% |
Price History
Suggest a Prediction
If a suggestion you submit to The Exchange is accepted, your account will receive S$25,000.00 Standard dollars
Suggest Predictions View all suggestionsMost Active Predictions
Free White Papers
- The Missing Link White Paper Driving Business Results Through Pay-for-Performance
- Changing the Game White Paper 4 Ways to Unlock Your Employees’ Performance Potential
- 9 Critical Reasons to Automate Performance Management
- Driving Success White Paper The Incredible Power of Company-Wide Goal Alignment
- Roadmap to Success White Paper Driving Bottom-Line Results with People Performance
RSS Feeds
Main Feed
Views & Analysis (all contributors)
Latest News (all contributors)
The Industry Standard News (no 3rd-party contributions)
Predictions
All Site Comments
Comments
"we were even pondering putting forth a prediction that the stock would fall to as low as $125 on the Nasdaq": At least that would have unambiguously *implied* US dollars, the kind favored by NASDAQ.
The current proposition, as written, is ambiguous: After all, RIM is a Canadian company, and its home is the Toronto Stock Exchange .. which prefers to do business in Canadian dollars. The difference is currently on the order of five percent in favor of US dollar. (US$180 was about Cdn$187.85 last week).
@David, the spirit in which this prediciton was written is based on US dollar on the Nasdaq (in case anyone else is wondering).
@David: Thanks! I'm new here. Your interpretation was how I took the site's own Prediction -- about three minutes before I bet S$5,000 precious newbie bucks Against -- so I am indeed happy to enjoy the benefit of a strike price 4% lower.
Still, it is perhaps my duty to point out that analyst Peter Misek (who is surely a smarter fellow than I am) expressed his cited target price in Cdn$.
It's bad enough to let others bet against *me*. While I willingly accept play money from *all*, I'd not want any *one* individual to feel that I did so other than as part of a "perfect information" game. ;-)
On a related note, I interpreted "fiscal year" to be a misstatement of "calendar year," as what matters here is merely a High market price quotation, rather than a matter of closing the accounting books or reporting on them.
RIMM continues the slide. Down to below $100 today. Seriously doubt it can gain 80% in under 3 months as more "iPhone killers" debuts for the holiday shopping season.
RIMM plunged down today to about $72/sh today following a weak forecast. There is absolutely NO WAY for RIMM to break $180 by judgment date.
@TIS, why is the betting closed on 12/1 if judgment date is 12/31? That is a long time for bets to be frozen.
Thanks for catching that, David. Fixed.
I think RIM will need an utter miracle for this stock to meet the requirements of this prediction.
Poor RIIMM. The market just not doing it any favors. Down nearly 7% again to about $66/sh. Unless it is has highly successful anti-cancer vaccine that is about to be approved by FDA, a miracle cannot help RIMM reach $180. This is a guaranteed bet with a 3 months ROI (shorter if RIMM gets delisted or folds).
Correction ... it is down over 11% today to $62/sh now.
Post new comment