Shares of Waterloo-based Research In Motion are up more than 6% today, and were up more than 10% earlier in trading. The rally follows major American financial institution Goldman Sachs upgrading the stock to "buy" from "neutral."
RIM shares have flirted with $12 all week. They currently sit just below at $11.81.
Just one month ago, RIM was trading below $8. Earlier this year, the BlackBerry maker appeared to be on its deathbed with a share price of just $6. However, as BlackBerry 10 nears, investors are realizing that it is not too little or too late for RIM to become the third major mobile platform in a market currently dominated by Apple's iOS and Google's Android.
Carriers are excited about BB10, and early reviews from users suggest the next-gen operating system will live up to its hype. Investors, the most hesitant to be optimistic because they have the most to lose—besides RIM of course—now seem to be willing to take the plunge and bank on a recovery.
Photo: Aaron Vincent Elkaim/Canadian Press