Dumpster Diving for Stocks (RIMM, AMD, NOK)
Trading terrible and lying in the dumpster today are shares of Research in Motion (RIMM), Advanced Micro Devices (AMD) and of course Nokia (NOK). Let's get dirty with these down on their luck companies.
RIM (RIMM) can't convince anyone their company is worth anything. The Blackberry maker is trading just 2% away from its 52-week low at $7.29 a share. Everyone has passed on buying this company and many are wondering how much longer they will stay in business. Besides corporate America do you know anyone who still wants to use any product created by RIM? Turns out Research in Motion customers are forming contingency plans in the event the RIM's network is disrupted by a breakup of the company or some other business event.
AMD (AMD) is hurting today down 10% and trading under $5 a share. Yesterday AMD warned it was going to deliver a weak Q2 with revenue down 11% when compared to last year's results. The company's guidance will not be much better and they are blaming weak sales in China and Europe. Wah! Since July 3rd AMD shares are down 16% and 37% since March.
Nokia (NOK) once again blessing its shareholders with a new 12 month low today and its fitting to stay above $1.80 a share. Nothing new to report here and if you still care check out Nokia under $2 a Share.
Bottom line: NOK, AMD, and RIMM are nothing but trash at the moment. They could bounce back but its comes with a large amount of risk. Mastery likes in order of a potential rebound: NOK, AMD, RIMM.
3 DUMPSTER DIVE STOCKS
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