RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

Original prediction: 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.

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard

RIM shares hit $180

The Standard — Fri, 27 Jun 2008 21:01:05 -0700

Judgment on January 5, 2008: This did not occur by the end of 2008, by a long shot, which the community correctly predicted. -- The Industry Standard