Yet Another Rumor Surfaces About a RIM Sale
RIM has reportedly hired on investment bank Goldman Sachs to explore strategic options.
FOX Business reports that shares of Research In Motion climbed nearly 4-percent on Thursday after rumors surfaced about the company hiring investment bank Goldman Sachs to "explore strategic options."
This is the fourth time since September 2011 that RIM stocks have jumped due to a possible sale. The first jump took place after reports about a possible purchase by activist investor Carl Icahn surfaced, and then jumped again just one week later after the company reportedly hired an investment bank.
RIM shares then jumped again back in December after Reuters claimed that Amazon and other potential buyers were considering a bid. As for this latest possible purchase rumor, both RIM and Goldman Sachs declined to comment.
Talks of a RIM purchase are typically shot down by analysts simply because there are no real natural buyers that exist. Even more, current management is highly focused on cranking up the company's overall wealth given that RIM's stock has lost 75-percent of its value in the past year.
Just this week at CES, we saw the release of an updated BlackBerry OS featuring BlackBerry Tag, the addition of mobile hotspot sharing and more. The company also introduced a new version of its PlayBook tablet OS packed with new features and improvements. Needless to say, the company doesn't appear to be in any kind of position to sell, but rather is looking to regain lost marketshare.
Still, it's quite possible RIM hired on Goldman Sachs to help turn the company around. "It's up on Goldman, but I wouldn't put too much on that," said one trader who declined to be identified. If anything, the recent spikes in stock value should tell the company execs that investors want things to change for the better -- even if it means an outright sale -- and soon.