DAMIEN MEYER/AFP/Getty Images
Don't write this company off just yet. As BlackBerry maker Research in Motion nears the release of BlackBerry 10 and new phones, the stock is getting some respect.
It would difficult to find a better example of near-total meltdown in the tech economy that Canada's Research in Motion, maker of the once-iconic but now nearly irrelevant BlackBerry smartphone. The stock traded at nearly $150 a share at its peak in 2008.
It's now barely above $11.
But that in itself is the story this Black Friday as all of Canada rejoices! Well, maybe not. But RIM is showing its first signs of life in months, up a whopping 13-plus percent in trading Friday.
What's driving this is growing optimism that the company's new BlackBerry 10 operating system and and new lineup of touchscreen phones (better than some of its previous, much-derided touchscreen phones) will enable the company to get back into the smartphone wars, duking it out with Apple and Samsung to retake some of its lost market share.