RIM (RIMM) Jumps As PlayBook Pricing Gives It a Chance
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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.
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