Research In Motion Is Now A Huge Momentum Magnet

 

Research in Motion (RIMM) has broken above $70 after the company reported that they are killing it right now.

 

They’ve just shipped a record number BlackBerries, beat expectations, and gave strong guidance.

Check out Dan Frommer’s earnings breakdown here.

Thus RIMM is reporting their best ever shipments… yet its stock, even after today’s pop, is well below its own record levels, and even below this year’s high around $85. Now watch the momentum traders come back.

The author does not own shares of RIMM.
[image url="http://static.businessinsider.com/image/4b2b9605000000000025a2e9/image.jpg" link="lightbox" caption="" source="" alt="RIMM" align="left" size="xlarge" nocrop="true" clear="true"]

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.