While the markets were getting crushed in August, you won’t believe which stock was surging higher!
What stock are we talking about? -- Research in Motion. You read that right – the BlackBerry maker has surged almost 30% in 30 days!
”RIM had 2 difficult quarters in a row but now the new BlackBerry devices have alleviated a lot of the fear that they could have a difficult 3rd quarter in a row,“ explains Tavis McCourt of Morgan Keegan.
But are the gains sustainable?
McCourt suggests they are if for no other reason than RIM could be a takeout target.
"After Google snapped up Motorola Mobility, bears had to come to the conclusion that there is some value here, whether it’s the cash on the balance sheet, the patents or the cash flow.”
Fast trader Guy Adami can't get on board. He thinks, if anything, RIM is due for a pullback. “RIM typically overshoots to the downside and the upside and I think this is an overshoot.”
Get all the details. Watch the video now!