January 4, 2013- Research in Motion Ltd (RIM) enjoyed a boost in the value of its stock on the Toronto Stock Exchange earlier yesterday.
After experiencing a sharp decline just a week ago, the company’s stock soared nearly ten percent in a single day of trading on the north-of-the-border stock exchange. This surge in the stock’s value followed a similar result in New York on the previous day, Wednesday.
This was good news for Research in Motion and for its investors. The company’s stock had plummeted by nearly twenty percent last week after an announcement by a Research in Motion spokesperson stating that the company was rolling out a new fee structure that could drastically affect its high-margin business.
Investors reacted negatively to the news and that impacted the performance of the stock causing it to lose some of its value.
Nevertheless, Research in Motion still plans to introduce its new Blackberry 10 smart phone at the end of January and that news helped the stock to recover.
In trading earlier yesterday, Research in Motion stock rose by 9.7% and reached a price of $11.42. Analysts remain bullish on this company.