There are still plenty of bears on Research In Motion. However, one of them, Eric Jackson, has changed his position on RIM. Jackson, the founder of Ironfire Capital, says the parallels drawn by some analysts between RIM and its now-defunct rival Palm are flawed.

Palm never had the huge subscriber base. Nor did Palm have global carrier relations, like RIM. Jackson contends that RIM’s new BlackBerry 10 devices have much better odds of success than Palm’s Pre device.

ADVERTISEMENT

Jackson now has a long position on RIM, saying:

I was on Breakout on Yahoo! Finance with Jeff Macke last week talking about my views on BlackBerry. Jeff asked me if I’m just in this as a trade until the new phones ship. Of course, everything’s a trade, and I might decide to get out of the stock if it runs up too much between now and February. However, I’m envisioning this as a one year trade.

RIM could be the AOL stock of 2013. AOL was left for dead in August 2011 after bad earnings. It was at $10/share. Earlier last month, it closed above $40. Yet, no one discussed it all the way up from $10.

I think RIM will be the same. The story will play out in 2013 over multiple earnings reports.

It’s great to see more of the RIM bears turn into bulls. Let’s hope they’re all right and we’ll see BlackBerry 10 be a huge success. Perhaps now is the time to buy $RIMM shares while they’re mildly low.

via TheStreet