RIM Shares Continue to Rally as Goldman Sachs Upgrades Stock to 'Buy'

Posted by Techvibes NewsDesk

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

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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