Investors love to fulfill their own prophecies. In 2011, they believed in Apple (NASDAQ: AAPL), bought into the company’s story and turned it into one of the most successful stocks of the year. In 2012, they expressed doubt and abandoned the stock even as new Apple products continued to break sales records worldwide.
Now investors seem to be giving Research In Motion (NASDAQ: RIMM) the prophecy fulfillment treatment. On Friday the stock jumped more than 10 percent. This rise came despite a global outage that affected BlackBerry customers on Vodafone’s network.
(What is Facebook’s mystery meeting doing to company shares?)
Investors seem to be unfazed by a new report from BMO Capital Markets, which downgraded its rating on Research In Motion from Market Perform to Underperform and lowered the price target from $12 to $9.
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