It’s been a while since we’ve reported on Research in Motion (NASDQ: RIMM) and that’s just because it’s been a really sad past couple of months for the Canadian telecom giant. Things may start looking up for May trading as news from China brings a huge jump in stock prices on the market opening today.
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The winds Wall Street Journal brings news of a huge move by Research in Motion to bring their BlackBerry services in to China. This comes as an effort by mobile giant China Telecom to try and dominate within the Chinese mobile world. China sure was the buzz word that set this Research stock in to Motion for the first time after almost a month and a half of sluggish trading below their February high of nearly $68 a share. China Telecom will be offering the BlackBerry Bold 9650 right off the bat – with potentially more phones on the way.
An upgrade from Bernstein Research as well as an endorsement from RBC Capital of sector perform for RIM has put the stock in a favorable position to make a rebound. Midweek trading leaves RIM at a high for May, let’s see if this trend continues.
Source: WSJ