One month has passed since our post on RIMM, and it really amazes us how manic depressive the market can be. We remember saying RIMM is dirt cheap at a price of $13.32, and guess what, it has collapsed another 17% to $11.10!
Simply amazing to have a company with no debt, $1.5bils in cash & cash equivalents, trading at price to tangible book of 0.89 and price to book of 0.58. After taking away cash, you are buying a company for just 2.36 times its FCFs, with all its patents, infrastructure, subscriber base, network they have built through the years.
Definitely up for sale!