Why The RIM Share Price is Headed Up

Analysts are talking up the RIM share price after a depressing run for the Canadian phone maker. But something else is going on. While the press and analyst were burying RIM, its popularity was already on the increase, months before the share price went up.

The share price is in upward motion. RIM shares closed Friday at C$11.61 in Toronto having trended towards $6.00 in late September. CIBC now has them targeted at $17.

Yet back in June most of the news for RIM was bad: an earning’s miss and 5,000 jobs cut, further delays on its smartphone release, and even rumors that it would give up on hardware production.

In July press talk was still of RIM being on its deathbed, amid fears for the future of its hometown community. This was dire but commentary got no better in August.

Read Full Article from Forbes

- Posted: 2012-11-26 16:08:45

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