Stocks

RIM Making Big Gains on the Market

6 Comments

Research in Motion Limited (TSE: RIM) stock price has made huge gains today.  The stock was up over $7.18 per share or 4.88% in afternoon trading.  I still don’t know for certain what is causing the huge jump.  Yesterday, RIM filed a lawsuit against Samsung over the name of Samsung’s phone called BlackJack.  They claim that this device looks and sounds a lot like the BlackBerry.  I imagine that the reason the stock is up today is still the suit news.  I am expecting that RIM stock will drop before the day is done or it will drop on Friday as people look to take profits (people always seem to take profits late in the week).  Whatever the case may be, it is good to see a Canadian company like RIM compete and succeed on the global market.

6 thoughts on “RIM Making Big Gains on the Market”

  2. Exactly! I have no idea why the stock would be jumping. The suit was the only information I could find about RIM recently. Some other news recently was that RIM lawyers are prepping an update for some late Q2 numbers. This was announced yesterday afternoon, so this is the more likely candidate for the stock increasing today. Who knows though, the stock is now up 5.62%. The lawyers must be working on a major update to those Q2 numbers.

  4. Thanks for the link Vallen, but I am doubting that Basex has the ability to raise a stock this much. I have a feeling this increase has more to do with the 2Q and 3Q financial reports coming out soon (March). Although, I do agree part of that increase could be attributed to their product being named product of the year.

  5. I think RIM price will go up in the Friday morning and there will be a fall in the after noon, it might be because RIM is progressing every single day. Even in India RIM is expanding its tree.

  6. I think the exact reason for RIM stock to go up so high is its launch of Blackberry in India with Hutch services.
    Considering China and India are biggest consumers now, it means RIM can sell a lot more Pearl… If the lauch goes succesful and people accepts it then Stock will go real high… wait for 4-6 weeks to see the results….

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