Friday, October 21, 2005

Follow Up: Research in Motion

Several weeks ago, we advised our readers to sell their Research in Motion (RIMM) holdings after Micrososft linked up with the Blackberry maker's rival, Palm.

To refresh your memory, we wrote:
"..on Wednesday the Blackberry makers posted lower than expected subscriber numbers. RIMM was as hot as a pistol for quite some time -- but it's day has arrived.

With the economy in dire straits, there is no telling how much future Blackberry sales may suffer from falling disposable incomes.It's time to cash out of RIMM and move on in search of better fruit."
On Friday, RIMM shareholders were smacked in the face with another brick of bad news: the company is regrettably moving closer to an injunction that could shut down its popular BlackBerry email service in the US.

Today, RIMM shares were halted before they fell 3.5%.

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