Research In Motion Stock Gaps Up On Today's Open (RIMM)
Shares of Research in Motion (Nasdaq:RIMM) were gapping up Wednesday morning with an open price 11.8% higher than Tuesday's closing price. The stock closed at $12.52 yesterday and opened today's trading at $14.
NEW YORK ( TheStreet) -- Shares of Research in Motion (Nasdaq: RIMM) were gapping up Wednesday morning with an open price 11.8% higher than Tuesday's closing price. The stock closed at $12.52 Tuesday and opened today's trading at $14. The average volume for Research in Motion has been 22 million shares per day over the past 30 days. Research in Motion has a market cap of $6.76 billion and is part of the technology sector and telecommunications industry. Shares are down 78.5% year to date as of the close of trading on Tuesday. Research In Motion Limited (RIM) designs, manufactures, and markets wireless solutions for the worldwide mobile communications market. The company has a P/E ratio of three, above the average telecommunications industry P/E ratio of 2.4 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Research in Motion as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Research in Motion Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.