RIM shares climb as investors bet on new BlackBerry
TORONTO (REUTERS) - Shares of Research In Motion (RIM) rallied on Friday as investors positioned themselves ahead of the launch of its new make-or-break BlackBerry 10 smartphones at the end of the month.
Morningstar analyst Brian Colello did not see any one news story driving the stock, which climbed steadily through much of the day. The new phones are to be formally unveiled on Jan 30.
"The stock has been extremely volatile, based on BlackBerry 10 rumors and the potential for success in the market," said Mr Colello.
Several blog posts published on Friday showed purportedly leaked photos of what could be the new phones, and a number of tech sites confirmed that Sprint Nextel Corp would carry BlackBerry 10.