Shares of Research In Motion (RIMM) touched a new all-time high today above $143 a share. Just three months ago, RIMM was forming a base at $84 a share.
From MarketWatch:
Before the opening bell, Research In Motion said it will launch the new BlackBerry Bold in markets across the globe later this summer. The device will be available in North America through an exclusive relationship with AT&T sometime later this year, according to an AT&T spokesman.Shares of RIM set a new all-time high on the news, trading up more than 6% at $141.55 by midday. The stock had already surged by more than 60% over the last four months, having recovered fully from a sharp selloff in late 2007.
The Waterloo, Ontario-based company announced the news on the same day as its annual meeting with Wall Street analysts. At the meeting, RIM affirmed its forecast for revenue between $2.23 billion and $2.3 billion for the quarter ending on May 31, according to one analyst who was present at the event.
"The combination of a strong new phone (due in summer) combined with continued backing of its financial outlook has the shares up today," Cowen & Co. analyst Matthew Hoffman wrote in a brief note to clients.
I first recommended RIMM in Blue Chip Growth in February 2007, and we already have a 242% gain.



