There are a few things I wanted to point out about the title of this post. The first is that RIM (Research in Motion – the maker of the Blackberry) had a great day on the markets, the second is that most of the "pop" came after the markets closed.
During regular market hours, RIM was up 4.67% on the NASDAQ stock exchange. Further, the company just released it’s latest quarterly earnings "after-hours" – which means they waited until the regular markets closed. Once the information was assimilated by the markets – which they took to be better than what they had expected – after-hours trading really pushed up the stock price – another 11.19%. It reached a high of $120.10 USD before settling at just under $119 USD.
The earnings basically said that RIM’s profit for the 3rd quarter of this fiscal year was about DOUBLE the profit they earned a year ago. A lot of this is attributed to the popularity of their new Blackberry Pearl phones.
This means in all likelihood you should expect a big gap up in your RIM shares in the morning.
(I’ll write about after-hours trading (and pre-market trading) in the New Year.)
Some other notes about RIM today: It was revealed that the FBI just placed an order for 18,000 Blackberries. Also, another company has launched a patent dispute against them. Ah, the roller coaster that is tech!
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I’m glad I got in before the jump ;) Hope this growth sustains! I read that analysts predict $140+…but that’s if it doesn’t get downplayed by the whole credit crunch…
And yes, an article about after-hours trading would be great!