Telecom analyst Troy Crandall says how well RIM does with BlackBerry 10 won't be clear until after the back-to-school season next fall.
While there was a report that PC maker Lenovo Group is looking at potential acquisition targets and strategic alliances, including with RIM, Mr. Crandall says it may be difficult for the Chinese company to get Canadian government approval.
Mr. Crandall, of Montreal-based MacDougall, MacDougall & MacTier, says as of Dec. 31 almost 30 per cent of RIM's shares were held by short-sellers who are betting against the success of BB10, which is being unveiled next Wednesday.
RIM's shares have risen dramatically in recent weeks with analysts less pessimistic about RIM and giving the new operating system and smartphones some chance of success.
Shares in RIM (TSX:RIM) were up 54 cents, or 3.1 per cent, to $17.84 in afternoon trading on the Toronto Stock Exchange.