Scrooged

Having said yesterday I didn’t know where share price was headed, I proceeded to predict there would be a major move either up or down once Research In Motion results were released today. Well, RIM was up $3 at one point and down $1 at another in after-hours trading, but then settled out a mere 2 per cent higher despite posting a 40 per cent improvement in profits and beating the estimate on guidance.

Not so long ago, a year or two back, such powerful results would have sent share price higher by as much as 8 per cent. These days, RIM is like Marley’s ghost, dragging the chains and lock boxes of negative comments by so many analysts.