TORONTO – Research In Motion (TSX:RIM) rallied in early trading Thursday following a pre-holiday slump for the BlackBerry maker’s stock.
The stock was at C$11.72 in Toronto, up $1.22 from Monday’s close before a two-day Canadian holiday for Christmas and Boxing Day.
RIM shares had gained ground Wednesday on U.S. markets while the Toronto Stock Exchange was closed and the TSX followed Nasdaq’s lead on Thursday.
In New York, RIM shares (Nasdaq:RIMM) continued move higher, adding about 18 cents or nearly two per cent from the Wednesday close.
The stock plunged about 25 per cent last week as analysts raised concerns about less revenue from the lucrative service fees charged by the company to use its secure network.
The stock had been on a roll during December on rising optimism about the new BlackBerry 10 lineup which is being launched at the end of January.