Blackberry’s (TSX:BB,NASDAQ:BBRY) stock is up close to 3% thus far today, a likely result of some positive vibes emanating from the long-awaited release of the Q10 device (keyboard) at U.K. retailer Selfridges over the weekend. A note out of RBC Capital Markets indicated that crowds, though modest, had even formed at various locations.
The Q10 is widely available today at other retailers in the U.K. and will make its debut in Canada on Wednesday. The U.S. will finally get its crack at the newest Blackberry in late-May.
Everything remains anecdotal at this point but optimists believe that this is the device that Blackberry fans have been waiting for. They better hope so as the buzz around the Z10 is fading fast. In the U.S., the Z10 has fallen out of the top 15 best-selling smartphones at BestBuy.com.
Even though Blackberry shares have had a 13% move higher over the past couple weeks, the short position against the company continues to climb and now stands at 31.4% of shares outstanding. Clearly, many are betting that the Q10 will do nothing to alter the company’s long-term prospects.
Even though shares could rip higher if the Q10 is a hit due to this massive short position, Blackberry continues to be nothing more than a gamble and should be treated as such. However, Canadian investors deserve to own great businesses and the U.S. market is home to some of the best in the world. We have created a special FREE report that identifies 3 U.S. businesses that are worthy of your hard-earned investment dollars. Simply click here to receive “3 U.S. Stocks Every Canadian Should Own” – FREE!
Fool contributor Iain Butler does not own shares in any of the company’s mentioned. The Motley Fool has no positions in the stocks mentioned above.
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