The Play's The Thing (NASDAQ RIMM) (TSE: RIM)

Research In Motion was downgraded earlier this week at Oppenheimer from Outperform to Perform. The rating firm cited M&A probability as not being likely.

However, Research In Motion has been on a tear lately, as the stock has shown bullish momentum, and has continued to rise sharply over the past week.

Demos of the company's new PlayBook tablet device sparked interest among investors. The products new capabilities such as device pairing, and full Flash support are turning heads in the business world. The new device is aimed at corporations who wish to increase employee productivity by enabling them with the high powered tablet.

The PlayBook boasts a 1GHz dual core processor, two HD cameras (3 MegaPixel front facing and 5 MegaPixel rear facing), Wi-Fi compatibility, and a host of other features. RIM intends to offer 3G and 4G models in the future. The device is set for release sometime in Q1 of 2011.

RIM: On The Move (NASDAQ: RIMM) (TSE: RIM)

Research In Motion is back up to recession levels after having been beaten down for months. The stock has leapt up in the past few trading day on talk of the new PlayBook demos. There is clearly something that investors are interested in. The PlayBook tablet comes with new features such as device pairing. BlackBerry users don't need to pay another data bill to use their tablet. They can browse the web using device pairing between the PlayBook and the BlackBerry. The PlayBook also supports Adobe's Flash and allows users to browse YouTube as if it was a desktop experience. The PlayBook is set to be released sometime in Q1 of 2011.

RIM stock has moved up over 12% in the last 5 days, yet still trades with a 10.5 PE ratio.