A funny thing happened to BlackBerry stock yesterday: it went up. A lot.
The stock of Research In Motion (RIM), the Canadian company that makes BlackBerry smartphones, traded as high as $14.67 on the Toronto Stock Exchange on Monday, January 14. That’s a gain of $1.36 or 10.2 percent, according to CTV News. That’s the highest it’s been since April of 2012, when it traded at $14.95.
RIM is holding a special launch event for BlackBerry 10, the next generation of its mobile operating system, on January 30. That’s one reason investors might be bullish about the company for a change. It might also have to do with recent leaks, reported by TechRadar, that functionality like Twitter and Google Talk connectivity will be built right into the BlackBerry Hub, BlackBerry 10’s centralized inbox.
There’s further good news for RIM. The company held a “port-a-thon” to get developers to submit BlackBerry 10 apps. The developer of each approved app would receive a $100 bounty. The idea was to have as many apps available as possible for the launch event. In the end, more than 15,000 apps were submitted in less than two days. Even if only some of these apps are approved, it’s a good deal more content than would have been available otherwise.
Then again, investors could have just been shifting money from other mobile technology vendors. The same trading day saw a sizable decline in the stock price of Apple, maker of the device RIM can only hope to compete with: the iPhone. CTV News reported that Apple stock was down $18.64 or 3.6 percent to $501.66. That decline came on the news that Apple was reducing orders for iPhone 5 parts.
Obviously, it’s tough to compare two stock prices in such different leagues. But it does indicate one thing: there’s drama left in the smartphone wars after all.
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