A Trade Ripens in Blackberry Maker
Stock quotes in this article:
RIMM
Editor's note: To provide you with a more comprehensive account of Cramer's remarks from the "Mad Money" episode that aired June 21, we present this excerpt. Click here to read the full Mad Money Recap for that episode.
With a rally like Wednesday's, you've gotta be feeling enthusiastic. It's the kind of day that makes a man aggressive, and I mean that in a good way. I know we've got this whole cultural complex about being polite and restrained, we teach our kids that it's bad to be aggressive, and it's good to do things like share and hold hands. Well, not on "Mad Money" -- especially the sharing part. Cramer hates sharing, unless it's advice or the proceeds from my charitable trust, which I'm happy to give away. On "Mad Money," we've got a place for aggression. You know why? Because being aggressive, if you do it right, can make you rich. The market was smoking today. And when the market's en fuego, I need you out there looking for trades. Trades are fun, they keep you interested in the market and if you're bored with your stocks, trust me, you're not getting rich, because you're not going to pay enough attention or work hard enough to get there. But we don't just trade because it's fun, we trade because it makes us fast money, money we can put in our pockets in maybe a couple weeks, or a few months at the longest. Now let me do my duty to you and give you a trade that could put some money in your pocket. The trade is in Research In Motion(RIMM Quote). You probably know it as the company that makes the Blackberry. This stock started the year around $66, then shot up to $90 in intraday trading in March. Since then, it's been put through the wood chipper like Steve Buscemi in Fargo, and it's back down around $63.90. The whole tech sector has taken a nasty beating with the ugly stick, although RIM has unquestionably gotten more attention from it than the rest of the sector. RIM's been a bad stock and a mediocre company -- no argument there. They've just had two really bad quarters, partially because of the overhang from that patent lawsuit from NTP that I'm sure you heard about constantly, even though that news could make you no money. Plus, Motorola(MOT Quote) rolled out the Q, the Blackberry killer. It's just like the Blackberry, it's even got the scroll wheel.- Loading Comments...
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