RIM Shares Shrug Off Service Outage - TheStreet

NEW YORK (TheStreet) -- A massive BlackBerry service outage, the third and most severe in recent weeks, put the focus on Research In Motion (RIMM) shares Wednesday.

The information-driven Wall Street community, along with large sections of North America and even some areas overseas saw BlackBerry service go dark at about 6:30 p.m. EST Tuesday, according to users and media reports.

Some users were calling the current outage a massive meltdown affecting not just email, but messaging and Internet access as well.

RIM says it has identified the problem, pointing to its BlackBerry Messenger program. The company

said in a statement that it is working on restoring the service


BlackBerry subscribers say they received a couple batches of emails in early hours Wednesday, but as of 9 a.m. EST, the service was still down.

RIM's recent success has ridden on the company's defining feature: secure, reliable, email service primarily to business users.

The repeated outages come at a time when RIM is trying to fend off smartphone challengers like


(AAPL) - Get Report



(GOOG) - Get Report


phones including the upcoming

Google phone

, as well as



Droid phone at


(VZ) - Get Report


Investors don't necessarily embrace the latest outage, but after a dip earlier Wednesday, the shares recovered to largely unchanged levels at $67.44 in midday trading.

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