RIM shares give back 4.5 per cent in Toronto after dramatic surge

TORONTO – Research In Motion shares in New York are playing catch up to the dramatic surge seen in Toronto while Canadian shares give back some of Thursday’s gains.

RIM shares on the Nasdaq, which reopened today after the U.S. Thanksgiving holiday, were up almost 12 per cent to $11.47 in the early going.

After surging 17 per cent on the Toronto Stock Exchange on Thursday, RIM (TSX:RIM) shares gave back 47 cents, or 3.9 per cent, to $11.53.

Some analysts had expected that a more modest gain on the Nasdaq would, in turn, pull down the price in Toronto.

The spike in the BlackBerry maker’s shares came after a week of steady gains amid more positive sentiment, but analysts are still guarded about the potential success of RIM’s new operating system.

RIM’s new BlackBerry 10 operating system — which will be unveiled at a Jan. 30 event along with its new line of smartphones — is widely considered a make or break product launch.