Research in Motion Limited (RIMM) swelled amongst rumors that Vodafone Group Plc (VOD) may attempt to buy the BlackBerry manufacturer. The stock rose 12.33% on Wednesday, October 5, 2011, from a closing price of around $21 at end of day on Tuesday, October 4 to a close of $23.81 on October 5. The stock peaked at $24.34, sometime around high noon. RIMM had fallen to $20.30 a share at the end of September.
Some analysts say that Vodafone would be a poor fit for RIMM, citing instead the lackluster debut of the Apple iPhone 4S. Whatever the case, there are several hedge funds that made a bundle on RIMM today:
Jim Simons – Renaissance Technologies: Gained $7 million
Brett Barakett – Tremblant Capital: Gained $5.25 million
Jonathon Jacobson – Highfields Capital Management: Gained $4 million
Ken Griffin – Citadel Investment Group: Gained $3.3 million
John Kleinheinz – Kleinheinz Capital Partners: Gained $2.7 million
These calculations assume that these hedge funds did not increase or reduce their stock positions in RIMM since the end of June. We did not take into account their option positions.