Research In Motion Stock Gaps Down On Today's Open (RIMM)
Shares of Research in Motion (Nasdaq:RIMM) were gapping down Wednesday morning with an open price 10.4% lower than Tuesday's closing price. The stock closed at $11.23 yesterday and opened today's trading at $10.06.
NEW YORK ( TheStreet) -- Shares of Research in Motion (Nasdaq: RIMM) were gapping down Wednesday morning with an open price 10.4% lower than Tuesday's closing price. The stock closed at $11.23 Tuesday and opened today's trading at $10.06. The average volume for Research in Motion has been 19.6 million shares per day over the past 30 days. Research in Motion has a market cap of $5.77 billion and is part of the technology sector and telecommunications industry. Shares are down 22.6% year to date as of the close of trading on Tuesday. Research In Motion Limited designs, manufactures, and markets wireless solutions for the mobile communications market worldwide. The company has a P/E ratio of five, equal to the average telecommunications industry P/E ratio 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, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Research in Motion Ratings Report. Get more investment ideas from our investment research center.