Don’t stand on the monkeybars…
Good morning and welcome back to the playground. Don’t stand on the monkeybars. At least not while the teachers are watching.
RIMM’s the story of the day. The stock is off 24% today, mainly for two reasons. That 200k unit number of Playbook tablet sales is gawdawful. And the even bigger reason is that the company burned through $1.5 billion of cash last quarter, of which only half can be contributed to their part of the Nortel patent portfolio purchase made in the quarter. They’ve got only $1.4 billion in cash left now. Bet we’ll see a capital raise at RIMM soon. Stay the hell away from this stock.
The markets and most of our stocks are flat today and I’d expect today to be a generally uneventful day at the markets. Back in a bit with my latest positions.
