As BlackBerry 10 phones near, hopes send RIM stock rising

By , Network World |  Mobile & Wireless, BlackBerry, blackberry 10

Speculation, rumors, and hopes about the upcoming BlackBerry 10 launch next week have sent Research in Motion's (RIMM - Nasdaq) stock price soaring.

RIM's stock price has been languishing in the $11-$12 range on the Nasdaq exchange for weeks, after sinking to a low of $6.18 last September. That changed on Jan. 18 when it jumped to the $15-$18 range after Jefferies Group analyst Peter Misek upgraded his stock recommendation to "buy" from "hold," and his target price for the stock to nearly $20 from $13. This morning, the stock jumped quickly from $9.32 to a peak of $17.52, starting to dip after that.

BACKGROUND: RIM offers wider peek at new BlackBerry UI

Jefferies' shift, according to several published reports, was based on the firm's assessment that RIM will enable a range of BlackBerry features and services, including email, on other mobile platforms, specifically iOS and Android.

According to one website, Misek wrote: "This change we believe is unknown or not well understood but is important. In the future we think RIM will add bring-your-own-device sandboxing and BlackBerry Messenger (BBM) on Android and iOS."

The stock is likely to get another boost today as investors apparently are set to overreact to comments by RIM CEO Thorsten Heins in an interview published Monday in the German newspaper Die Welt [German language version online]. Yesterday, Canada-based RIM's stock price on the Toronto Stock Exchange jumped 15% after Heins was reported to have said that RIM's ongoing "strategic review" potentially could result in licensing RIM's BlackBerry 10 operating system and other software or selling its handset business.

According to Reuters, reporting on the Die Welt interview, Heins said, "The main thing for now is to successfully introduce Blackberry 10. Then we'll see."

But Heins has been saying the same thing since he took the helm at RIM a year ago and launched the internal strategic review of the company's options. And what he's saying is no more than "we're not ruling anything out."

When Reuters asked a RIM spokesman to comment on the Die Welt interview, his reply: ""We do not have anything new to report on our strategic review at this time."


Originally published on Network World |  Click here to read the original story.
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