RE: Who is selling
"Never seen a company selling off at 1/3 its bookvalue,
muchless a company with no debt and no goodwill.
This is manipulation at its best"
Not really Pancho. Right or wrong there is a logic to it. It is no different then when companies are priced way above their present earnings. The market prices a stock by where they believe it will be 6 months to 1 year from now, so trying to price by current or past numbers is a waste of time.
I must have had this discussion 20 times on this board when people said that given their present and past earnings they should be above $65-$55-$45-$35-$25 and $15. I pointed out that it was forward projections and here we are in that future and each forward projection was justified , wasn't it?
The market is now telling you that they believe RIM will burn through a boat load of assets before they either right this ship or it it sold off for parts. Are they right or are they wrong? Everyone has an opinion as do I, but I will tell you it is not manipulation any more than it was every step of the way on the slide down from $80.