The analyst cautioned the stock would resume dropping, likely falling into the single digits "as the company's fundamentals worsen." Thompson maintains an underperform rating and $8 U.S. price target on RIM stock. At the end of trading Wednesday, RIM shares were up 9.84 per cent over Tuesday's closing price of $12.90, which was among the stock's lowest closing prices in nearly eight years. Shares closed Wednesday at $14.17.
Research In Motion (NASDAQ:RIMM) stock tried to establish a meaningful bounce yesterday, however its price action today it’s not indicative of a reversal. Research In Motion has lost close to 80% of its value year to date and as such is now sparking takeover rumors and speculation. Yesterday, there was a report that both Microsoft and Nokia were planning on making a joint bid for RIM, which is now being compared with the late Palm where there might be more value on its parts than on the company as a whole. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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