RIM (RIMM) Jumps As PlayBook Pricing Gives It a Chance
Tweet
Share
E-mail
Shares of Research In Motion Limited (Nasdaq: RIMM) are jumping higher today as investors react positively to the pricing of its new tablet product.
Research In Motion plans to price its PlayBook tablet "under $500," according to media reports. RIM Co-CEO Jim Balsillie said, "the product will be very competitively priced." This statement hints that it will cost less than the Apple Inc. (NASDAQ: AAPL) iPad, which starts at $499.
Pricing may be the one variable RIM can compete with Apple on to get its tablet off and running.
Short covering can also be contributing to today's action, with about 6% of the float sold short.
Shares are up 7.4 percent today to $59.04.
Research In Motion plans to price its PlayBook tablet "under $500," according to media reports. RIM Co-CEO Jim Balsillie said, "the product will be very competitively priced." This statement hints that it will cost less than the Apple Inc. (NASDAQ: AAPL) iPad, which starts at $499.
Pricing may be the one variable RIM can compete with Apple on to get its tablet off and running.
Short covering can also be contributing to today's action, with about 6% of the float sold short.
Shares are up 7.4 percent today to $59.04.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple executive in charge of Pay and Wallet is leaving the company - Bloomberg
- Kenon Holdings (KEN) halted, news pending
- Coherent earnings preview: Analysts say this is the key unlock to outperformance
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkRelated Entities
PlayBookSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
