RIM (Research In Motion) are doing something incredible and that is buying back its own stocks worth $1.2 billion.
The makers of BlackBerry mobile devices will be buying back $1.2 billion of its own stock which represents approximately 21 million shares or around 3.6% of its outstanding stock, the buyback plan is estimated to last for up to 12-months according to Market Watch.
We want to know if you think this is a good idea or not, apparently the buyback will not impact its growth considering the firms strength of the final balance sheet and of course it’s expected cash flow generation for the next several quarters.
(RIMM 57.61, -2.00, -3.36%) /quotes/comstock/11t!rim (CA:RIM 61.39, -2.50, -3.91%)
