GO
Loading...

Massive Mover: Is RIM the Next Hot Stock?

On Friday shares of Research in Motion shot higher, up more than 10% during the session. And lately those kinds of gains are nothing new.

The stock is more than 70% higher over the past 6 months. From a performance standpoint, RIM certainly has had a dramatic turnaround.

Is this the beginning of something?

According to top trader Jon Najarian it just may be. "I'm seeing calls trading versus puts trading at a 2 to 1 ratio," said Najarian.

That suggests pros are looking for more upside.

Mike Santoli, senior columnist for Yahoo!, thinks RIM is a beneficiary of money moving into the market that's 'looking for catch-up.'


A user tries out the new Blackberry Torch 9800 smartphone after it was unveiled at a news conference August 3, 2010 in New York City.
Getty Images
A user tries out the new Blackberry Torch 9800 smartphone after it was unveiled at a news conference August 3, 2010 in New York City.

"I don't know what the fundamental catalyst may be but I think gains are all about a speculative impulse that's being rekindled.

Pete Najarian agrees.

"There really isn't a catalyst that I can see driving the gains," he added. "A renewed interest in speculation makes sense. That would explain this kind of a violent move to the upside."

Traderdisclosure: On January 11, 2013, the following stocks and commodities mentionedor intended to be mentioned on CNBC's "Fast Money" were owned by the"Fast Money" traders; Jon Najarian is long RIMM CALLS; Jon Najarianis long call spreads in DNB; Jon Najarian is long call spreads in LVS; JonNajarian is short HLF 40 straddles; Stephen Weiss is long M; Stephen Weiss islong BAC; Stephen Weiss is long JPM; Stephen Weiss is long C; Stephen Weiss islong FB; Stephen Weiss is long TBF; Joe Terranova is long VRTS; Joe Terranovais long XOM; Joe Terranova is long AAPL; Joe Terranova is long SWN; JoeTerranova is long GS; Joe Terranova is long MS; Joe Terranova is long DELL; JoeTerranova is long GLW

For Ben Reitzes
Barclays Bank PLC and/or an affiliate is a market-maker and/or liquidityprovider in securities issued by Apple, Inc. or one of its affiliates: AAPL
Barclays Bank PLC and/or an affiliate has received compensation for investmentbanking services from Apple, Inc. in the past 12 months: AAPL
Barclays Bank PLC and/or an affiliate trades regularly in the securities ofApple, Inc: AAPL
Barclays Bank PLC and/or an affiliate has received non-investment bankingrelated compensation from Apple, Inc. within the past 12 months: AAPL
Apple, Inc. is, or during the past 12 months has been, an investment bankingclient of Barclays Bank PLC and/or an affiliate: AAPL
Apple, Inc. is, or during the past 12 months has been, a non-investment bankingclient (securities related services) of Barclays Bank PLC and/or an affiliate:AAPL

Symbol
Price
 
Change
%Change
BB
---

Featured

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET