Research-in-Motion (NASDAQ:RIMM) is going to trade ex-split today to reflect the previously announced 3-for-1 stock split. The $235.99 close of yesterday would now have an adjusted price of $78.663. Yesterday’s $236.66 high was actually the 52-week high and that would now be adjusted to a year high of what seems or feels like ‘only’ $78.88 because it has carried such a larger price tag for so long.
Yesterday’s price gain to a close of $235.99 was up more than $15.00 pre-split and up more than $5.00 post split. The stock’s intraday high yesterday was also followed by its highest closing price that was barely above the old high closing price of $234.35 (or $78.116 adjusted for the split) and one penny above the intraday highs from the same date of July 19.
When you see performance like this it is hard to argue witrh it being one of the new "Four Horsemen of Tech" that Cramer recently named.
Jon C. Ogg
August 21, 2007
Jon Ogg can be reached at email@example.com; he does not own securities in the companies he covers.