BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

RIMM Rallies; Rumor It Hires Banker To Mull Options

This article is more than 10 years old.

Research In Motion shares are trading sharply higher Tuesday morning on market rumors that the company has hired an investment banker to consider strategic options. The chatter has been picked up by market news sites StreetAccount and TheFlyOnTheWall.com, among other places.

Not hard to see why investors would be keen on the idea that some white knight could come riding to the BlackBerry maker's rescue; just who would want to buy the struggling company isn't at all clear, though. While they do have some mobile IP, plus a large installed base of corporate users, the company has been rapidly losing market share in the smart phone market, and they have gained little traction with the PlayBook tablet. But hope springs eternal.

RIMM is up 91 cents, or 4.4%, to $21.41.