After hitting a low around $6 back in September of last year, shares of Research In Motion started to climb thanks to positive reviews of the Waterloo-based company’s new BlackBerry 10 OS and smartphones. The string of positive reviews and stories did not break and with each passing day more and more carriers and enterprise clients kept appreciating the new mobile platform. This eventually forced analysts too to change their stance on the outlook of RIM’s shares and a majority of them raised the target price of the stock. As a result of that RIM’s stock price not only achieved a double figure mark once again, it also managed to capitalise and finally crossed the $17 mark a few days before the launch of the BB10. With just two days left before the big day, everything seemed to be going in RIM’s favour but shares have once again tumbled and plunged from $17 to a little over $16 and showed a 7 percent decline during trading hours.
Some are blaming Lenovo for the decline in RIM’s stock price because the company has rejected claims that it is interested in buying the hardware or software division of the famous BlackBerry maker. However, still the price of RIM’s stock is roughly triple to what it used to be some time ago, but the flip side is that back in 2008 it was worth $140, when Canadian company was at its peak.
For now it seems that acceptance or rejection of the new BB10 platform will decide the fate of RIM’s stock price, as the company will unveil its new software and hardware this Wednesday in New York, Toronto and in other parts of the world. And then its smartphones will hit the stores roughly after a week of launch.
Source: TechVibes
Photo: BGR
CRTC Lets Canadians View Wireless Service Provider Code to Gain Input
RIM Develops Partnerships with Sony, Disney and Warner Group to make Music and Videos Available on BlackBerry World
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence