Research In Motion Ltd. has been down so long, anything looks like up. As its new smartphones entered testing last week, the company’s stock popped to over $9 from around $7.50. Skeptics figured it was nothing more than a dead-cat bounce from a company stuck in a downward spiral.
The doubters might be in for a surprise. RIM could deliver big returns for investors willing to make a contrarian bet on the devastated ex-powerhouse.