RIM was bigger than the Royal Bank… for a few hours


blackberry8800.JPGI don’t know if many people caught this, but on Wednesday during the day Research in Motion (RIM – the maker of the Blackberry) increased in share price enough to become Canada’s largest publicly traded company by market capitalization – overtaking the Royal Bank! By the end of the day though, RIM had fallen back to number two…

When investors refer to the IT sector in Canada – really they are referring only to RIM – there are no other major players anymore in that space – in fact, every analyst seems to chuckle when they mention the "IT sector in Canada" these days since it is strange to call one company a whole sector.

By the way, the last time a hi-tech company was the largest public company on the TSX was… Nortel. But don’t worry, RIM actually has revenue and accountants… lol :) 

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Preet Banerjee
Preet Banerjee
...is an independent consultant to the financial services industry and a personal finance commentator. You can learn more about Preet at his personal website and you can click here to follow him on Twitter.
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