Good morning CrackBerry Nation! It's Monday Feb 4th, and as planned, Research In Motion is now BlackBerry on the stock exchanges. The ticker symbol has changed from RIMM to BBRY on the Nasdaq, and from RIM to BB on the Toronto Stock Exchange.
And as much as I loathe short term trading, I have to say it's a nice beginning to have the stock up almost 6% in early trading today.
A big part of the stock movement is probably due to the Bernstein upgrade. Their analyst, Pierre Ferragu, has been covering the stock for a few years and is known on Wall Street as a huge bear. I've read lots of his reports before and I didn't always agree with his logic, but in the end Wall Street only remembers your call on the stock. So to have him flipping over to an "outperform" rating is significant.
I haven't seen the full report yet, but Reuters is reporting on it with the following headline quote: "We upgrade BlackBerry to outperform today as we believe BB10 is set for a strong launch."
Personally, I've now been using my Z10 for 5 days. I can't put it down. I love the device. Everything about it feels different in a very good way.
Cheers to a brand new BlackBerry.