BlackBerry Blows It With BlackBerry 10 Product Launch

About: BlackBerry Limited (BB), Includes: AAPL, NOK
by: Saibus Research
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Saibus Research
Long/short equity, Deep Value, value, special situations

The most famous user of Research in Motion's (BBRY) (formerly (RIMM)) BlackBerry smartphone device, Barack Hussein Obama, was known for his campaign message of "Hope and Change." We think that BlackBerry's shareholders have been taking Obama's "Hope and Change" campaign message and applying it to their position in the stock in order to justify bidding up BBRY's price from $6.22/share in September to $18.32 in January. We believe that BBRY's shareholders helped bid up its share price by nearly 200% over this four-month period because they were hoping that BlackBerry 10 would change BBRY's fortunes and put an end to its continual sales declines. We can see why BBRY's shares have sold off by nearly 30% since January