Shares of Research In Motion stock are popping for the second day in a row on rumors that the company may be looking for a buyer. RIM’s stock was up as much as 14% on Wednesday morning as mysteriously sourced rumors suggested U.K. carrier Vodafone is considering an acquisition. Investors see RIM quickly running out of cash — the vendor burned through more than half of its $2.9 billion in cash during the second fiscal quarter alone — and analysts still aren’t convinced management can right the ship. Some still see promise in RIM’s upcoming QNX lineup however, and the company could certainly hold tremendous value for a potential buyer. Market rumors last week suggested that RIM was pulling the plug on the BlackBerry PlayBook and its tablet efforts in general, but RIM broke character and quickly put the rumors to bed. With the company’s stock on the rise, we doubt RIM will dispel this new round of rumors even if they prove to be inaccurate.
Vodafone rumored to be mulling RIM buy
Updated Dec 19th, 2018 7:31PM EST
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
