Research in Motion announced today that it plans to buy back 2 million outstanding shares of its common stock to be canceled out. Maybe things are a bit better for RIM than what a lot of people think. Generally, when a company repurchases its own stock for cancellation, the goal is to drive the stock price up.
We can’t say for sure that this is the case, however, companies that reduce capacity, generally have an idea that there will be demand for their stock, thus, driving the price up.
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