[Brianflys]

Interesting article in MarketWatch. Positive article. "Fresh Blackberry buzz drives RIM shares up"

What was interesting is the part about BMO attempting to manipulate the market with its "underperform" rating. The article says that the rating was intended to "push the shares down". Sounds like an attempt to manipulate the stock price with a bogus rating. BMO should be sanctioned for this behavoir. And fortunately it did not work.

Fresh BlackBerry buzz drives RIM shares up - The Tell - MarketWatch

Another factor adding to the day’s boost may have been some short-covering by investors. BMO Capital Markets downgraded RIM to an underperform rating before the opening bell, with analyst Tim Long saying “we are not expecting the new phones to stem market share losses.”

Mike Walkley, an analyst with competing brokerage Canaccord Genuity, told MarketWatch that some investors who had heavily shorted the stock prior to the downgrade may have scrambled when the ratings change failed to push the shares down.

[Bold_until_Hybrid_Comes]

Well, well, well looks like its a reality not a conspiracy.

[Acumenight]

Sigh... Sad but true.

[Superfly_FR]

Sigh... Sad but true.

Thanks I was searching for this lately.

[BThunderW]

It was obvious in the first hours of the trading. BMO was buying shares like there was no tomorrow.

Besides. BMO downgrading RIM two weeks before new product launch after a profitable quarter smells a bit fishy.

bmo3.PNG

[mrfreetruth]

This is not news for those who understand reality. For the haters I see you are avoiding the topic for obvious reasons.

[MoolahMitch]

Enjoyed every minute of their failed attempt

[Andrew4life]

It was obvious in the first hours of the trading. BMO was buying shares like there was no tomorrow.

Besides. BMO downgrading RIM two weeks before new product launch after a profitable quarter smells a bit fishy.

Not to mention this was just after a downgrade that was just 2 weeks ago with no big news coming up in between.

[Superfly_FR]

Sincerely hope someone have the balls to sue these guys.

[BBNation]

Should hit $15 by the end of next week. Why the **** one would downgrade now, 2 weeks of prior to release of bb10 so they can buy cheap ? Even people that shorted this morning after the downgrade should have paid dearly..go rim go..

[jonty12]

Sincerely hope someone have the balls to sue these guys.

Antoine, off topic completely, but why cover your surname when we can see your twitter handle (and thus your surname simply by searching for you on Twitter)? If you want too keep your surname hidden, you should hide your handle too.

[BThunderW]

He's got you there

Antoine, off topic completely, but why cover your surname when we can see your twitter handle (and thus your surname simply by searching for you on Twitter)? If you want too keep your surname hidden, you should hide your handle too.

[Shanerredflag]

135 million shorts at say an average of 11.00...I don't think the ride or effort by some pretty big money is done quite yet.

[Nindia]

I find this all hilarious. All these negative ratings in an attempt to keep the stock down is funny to me. Maybe I'm high on my own supply, but anyone shorting RIM at its current stage is a moron in my opinion. Why would you short a company with massive upside potential that is trading at book value? Even I'll agree shorting RIM a year ago was a smart idea at the time since BB10 was still all smoke and mirrors...but now that it is real and almost 95%+ of the people who have had a chance to play with it have said it's amazing, it would take a very specific type of moron to short RIM right now.

[Superfly_FR]

Antoine, off topic completely, but why cover your surname when we can see your twitter handle (and thus your surname simply by searching for you on Twitter)? If you want too keep your surname hidden, you should hide your handle too.

He's got you there

My twitter handle and all my social public identifiers are the same ... just want to avoid exposing my family (name) with a single TW post out of context, thus avoiding a quotation with a single first name letter ("A") witch could lead to another member of my family, for example. That's why.
I'm alway paying attention to this, as I had a problem before.

[Lehomer]

I would like to know how the investors that "heavily shorted" the stock "prior" to the downgrade knew the downgrade was coming ? Or , were they just guessing a downgrade was on its' way ....................hmmmmmm

[Branta]

it would take a very specific type of moron to short RIM right now.

The shorts got caught short, the price went higher than they expected. Some traders can't cover their deficit at today's price without buying in at more than they sold for.

[Superfly_FR]

I would like to know how the investors that "heavily shorted" the stock "prior" to the downgrade knew the downgrade was coming ? Or , were they just guessing a downgrade was on its' way ....................hmmmmmm

That's the point. If it's proven, it is called "stock manipulation" and leads to "jail".

[Branta]

135 million shorts at say an average of 11.00...I don't think the ride or effort by some pretty big money is done quite yet.

If they can't crash the price to buy low and cover their deficit it is entirely possible some of the traders could be pushed into bankrupcy. The current outstanding short positions need almost 30% of the available stock simply to cover the deficit, at current prices that would cost them around $2bn. Current price is higher than most points in the last 6 months and some big names stand to take a very cold shower if they can't get it below about $10 again.

[peter9477]

What was interesting is the part about BMO attempting to manipulate the market with its "underperform" rating. The article says that the rating was intended to "push the shares down".

While I admire your enthusiasm about this, you need better reading skills if you think it said that. The two paragraphs you accurately quoted, which are the only relevant ones here, absolutely give no indication of any such intent. It merely says that BMO downgraded the stock, and that doing so did not make the share price drop.

I believe there is lots of market manipulation going on, but those paragraphs simply don't show the intent you claim they do.

[Andrew4life]

I find this all hilarious. All these negative ratings in an attempt to keep the stock down is funny to me. Maybe I'm high on my own supply, but anyone shorting RIM at its current stage is a moron in my opinion. Why would you short a company with massive upside potential that is trading at book value? Even I'll agree shorting RIM a year ago was a smart idea at the time since BB10 was still all smoke and mirrors...but now that it is real and almost 95%+ of the people who have had a chance to play with it have said it's amazing, it would take a very specific type of moron to short RIM right now.

Because if BB10 fails, you're looking at gains of $13 per share (or whatever they short the stock at).
In the world of stocks, there is never knowing what can happen. Some people think one way, others think another.

Back then Nortel was the current day Apple. It was so big that you'd likely never see it go bankrupt, right? Well, they went bankrupt and Nortel only exists in history books.

Just as there is lots of upside, there is downside as well.

[Bold_until_Hybrid_Comes]

Because if BB10 fails, you're looking at gains of $13 per share (or whatever they short the stock at).
In the world of stocks, there is never knowing what can happen. Some people think one way, others think another.

Back then Nortel was the current day Apple. It was so big that you'd likely never see it go bankrupt, right? Well, they went bankrupt and Nortel only exists in history books.

Just as there is lots of upside, there is downside as well.

But people are too blind to see what isn't in front of them.

Apple is too big to fail, right? It would never happen, look how much cash they have! 100 billion! It can't happen, ever!

[grahamf]

Because if BB10 fails, you're looking at gains of $13 per share (or whatever they short the stock at).
In the world of stocks, there is never knowing what can happen. Some people think one way, others think another.

Back then Nortel was the current day Apple. It was so big that you'd likely never see it go bankrupt, right? Well, they went bankrupt and Nortel only exists in history books.

Just as there is lots of upside, there is downside as well.

Nortel went bankrupt partially because they were caught manipulating their stock.

[zyben]

Nortel went bankrupt partially because they were caught manipulating their stock.

...And RIM can't go bankrupt because they have no debt.

[samab]

While I admire your enthusiasm about this, you need better reading skills if you think it said that. The two paragraphs you accurately quoted, which are the only relevant ones here, absolutely give no indication of any such intent. It merely says that BMO downgraded the stock, and that doing so did not make the share price drop.

I believe there is lots of market manipulation going on, but those paragraphs simply don't show the intent you claim they do.

Globe and Mail's article explained a lot of the missing parts. The BMO analyst downgraded RIM because he didn't see any RIM booth at the CES (which closed today). He also seemed to prematurely left Las Vegas and wrote his downgrade before RIM held their off-site demos (i.e. at nearby hotel rooms).

BMO downgrades RIM to 'underperform,' cuts price target - The Globe and Mail

The close: RIM flies despite analyst downgrade - The Globe and Mail

Meanwhile, the rest of Wall Street saw the off-site demos and kind of ignore the BMO downgrade.