RIM (RIMM) Rises on Rumors, Turn in Sentiment Ahead of Its Last Chance at Relevancy
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Research In Motion Ltd (NASDAQ: RIMM) is higher again Monday as vague takeover chatter continues to circle Wall Street. While a takeover would certainly be a game-changer, smart investors aren't putting too much credence in the latest round of rumors. More importantly, these investors are noticing a clear turn in investor sentiment.
For the first time in years, RIM has investors excited ahead of the BB10 launch. Last week, the embattled smartphone maker announced it will hold its BB10 launch event on January 30th, 2013, which was sooner than many expected. The company under promised and over delivered - another first in a long, long time.
RIM is actively looking to license the platform to other smartphone makers like Samsung, although no deals have been announced and may not come ahead of the launch. In addition, 50 carriers have BB10 in their labs testing it out. RIM has also been actively working with bloggers to get the BB10 in the hands of as many influential parties as possible to create a pre-launch buzz.
Investors realize the company still has a very real chance to become the clear #3 in the smartphone race. In fact, carriers are actively rooting for the company to deliver. The latest round of 13Fs also showed big name investors are making big bets ahead of the launch:
Yacktman Asset Management boosted its stake by 12.2 million shares to 23.5 million shares.
Franklin Resources boosted its stake by 3.3 million shares to 18.4 million shares.
Renaissance Tech boosted its stake by 9.9 million shares to 16.9 million shares.
Viking Global showed a new 4.6 million share stake
BB10 could be big, and cement RIM as the #3 smartphone player behind Android and Apple's ioS. However, investors also need to realize this is the company's last chance. If they fail it will likely spell the demise of the company.
Shares of RIM are up 4.9 percent to $9.65 in afternoon trading Monday.
For the first time in years, RIM has investors excited ahead of the BB10 launch. Last week, the embattled smartphone maker announced it will hold its BB10 launch event on January 30th, 2013, which was sooner than many expected. The company under promised and over delivered - another first in a long, long time.
RIM is actively looking to license the platform to other smartphone makers like Samsung, although no deals have been announced and may not come ahead of the launch. In addition, 50 carriers have BB10 in their labs testing it out. RIM has also been actively working with bloggers to get the BB10 in the hands of as many influential parties as possible to create a pre-launch buzz.
Investors realize the company still has a very real chance to become the clear #3 in the smartphone race. In fact, carriers are actively rooting for the company to deliver. The latest round of 13Fs also showed big name investors are making big bets ahead of the launch:
BB10 could be big, and cement RIM as the #3 smartphone player behind Android and Apple's ioS. However, investors also need to realize this is the company's last chance. If they fail it will likely spell the demise of the company.
Shares of RIM are up 4.9 percent to $9.65 in afternoon trading Monday.
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