Blackberry Stock Price: If you have been paying close attention to Research In Motion Ltd (NASDAQ:BBRY) over the past six months, you are well aware that share prices have more than doubled during this time period. There are many reasons for this, including the fact that many are excited about the company’s new smartphones.
Despite the fact that new devices has excited some and boosted investor confidence, others wonder if the turnaround is being talked up a bit too much.
According to a Fox Business News article, “Nasdaq data released on Tuesday shows that short interest in the stock is at record levels and has more than doubled over the course of the last year.”
Research In Motion Ltd (NASDAQ:BBRY) is set to report quarterly results on Friday. This will give investors a better idea of the actual demand surrounding the company’s new Z10 touchscreen device.
With this in mind, a positive report could push its stock price even higher.
But what is with all the short interest? Why are some investors leery about what the future holds?
For a better idea of what is going on, check out this quote in the same Fox Business News piece:
“Short interest in BlackBerry’s Nasdaq-listed stock has risen to more than 155 million shares, up from 136.5 million shares a month ago and 60 million at this time last year.”
Backing this up even further is information from Markit, a company that “collects data from custodian banks that run lending programs on behalf of investors.”
Last week, the firm released a report showing that despite positive reviews for the Z10, short sellers are not impressed. Instead, the demand to borrow Research In Motion Ltd (NASDAQ:BBRY) shares remains high.
With all this in mind, Friday is a big day for the company. It is then that everybody will finally get a better idea of how things have progressed thus far, and what the future holds for the once dominant company.
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DISCLOSURE: I have no positions in any stock mentioned.
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