BlackBerry 10: RIM Shares Surge Again Ahead of BB10 Unveiling

Posted: Updated:
Print Article
RIM CEO Thorsten Heins. Shares in BlackBerry-maker Research In Motion are continuing their upward march. (Getty Images)
RIM CEO Thorsten Heins. Shares in BlackBerry-maker Research In Motion are continuing their upward march. (Getty Images)

WATERLOO, Ont. — Research In Motion's stock reached levels unseen since early last year in trading Monday before settling for a substantial gain of almost 11 per cent on the day.

Shares in the BlackBerry maker hit $18.49 at one point before closing up $1.70 at $17.41 on the Toronto Stock Exchange.

The last time RIM shares traded above $18 was in January 2012, before the stock began a long decline marked by product setbacks and disappointments that saw it hit a low of $6.10 in September.

(STORY CONTINUES BELOW SLIDESHOW)

BlackBerry 10: Facts & Rumours
of
Share
Tweet
Advertisement
Share this
close
Current Slide

The stock has gained more than 18 per cent since the close last Monday and more than 185 per cent since last September.

The surge comes as RIM prepares to unveil its new BlackBerry 10 operating system and line of smartphones on Jan. 30.

On Monday, president and CEO Thorsten Heins was quoted in a German newspaper as saying the Waterloo, Ont.,-based company is still open to licensing its new OS, but not before the launch.

The paper also quotes Heins as saying the sale of RIM's hardware production arm is also a possibility.

On Friday, Jeffries & Co. analyst Peter Misek raised his target estimate for RIM to US$19.50 per share, from $13.

In a note to investors, Misek said he expects RIM to open its corporate BlackBerry email services to iPhone and Android devices, which would be a new revenue stream for the company.

BlackBerry 10 is widely considered a make-or-break product for the once dominant smartphone maker, which has seen its market share eroded by Apple and Android devices.

Around the Web

BlackBerry 10 exposed in full detail thanks to batch of leaked screenshots

BlackBerry 10 promises speedy surfing

BlackBerry 10 training program draws 1600 businesses

RIM kicks off final BlackBerry 10 port-a-thon before launch

BlackBerry 10 apps may suck on the QWERTY handset

Achtung! Austrian Website Leaks BlackBerry 10 Walkthrough Video