Rumors of possible hire of investment banker fuel RIM stock to rise
Research In Motion has been struggling in the stock market. That is not a secret. As of Tuesday morning and into Wednesday RIM's stock (RIMM) has risen to $23.85. This is being attributed to a couple of things.
Rumors have been swirling online that Research In Motion has hired an investment banker to help the company out in its strategic financial options. At this point, anyone that RIM can bring into the mix to give a fresh, new perspective is a welcome sight. Finances are what investors most worry about so it's no surprise this is helping their stock rise.
Also with DevCon coming up in less than two weeks and the less than stellar event by Apple yesterday, Research In Motion has possibly the best chance its had in the last couple of years to rise back up. A strong showing at DevCon (which should include the announcement and release of the BlackBerry Tablet 2.0 OS for the PlayBook, the introduction of the BBX Platform, and possibly [fingers crossed] showing of the first prototype BBX powered BlackBerry), could help Research In Motion get back in the game.
- What do you think RIM needs to do to keep this upward trend going in the stock market?