The ComeBackBerry

The buzz continued to circulate over the weekend about RIM’s future in the mobile space. Research In Motion Inc. is currently meeting with a stock price that values the company at less than the by and large regard of its assets. After myriad product delays and an international three-day service outage, RIM’s stock price has fallen more than 68% this year and was trading this morning at about $18.61 per share.

However, two weeks back an article in the Los Angeles Times suggested that, although the faster iPhones and Android devices have been raking in market share from Research in Motion’s once-addictive and adroitly nick-named “CrackBerry,” analysts and executives are not ready to count the smartphone out just yet.

Further commentary over the weekend seemed to imply the that upcoming BBX operating logic, which will run on a new line of RIM’s BlackBerry tablets and smartphones, might just be the company’s salvation, bringing a third contendor back into the current two-man race.

BBX Photo Leaked on The Verge

As reported today, “People reckon it’s a melting ice cube,” Leon Cooperman told  Bloomberg. ”We reckon the new operating logic is going to surprise people.” BBX, which is set to launch early next year, will enable apps built for Google’s Android operating logic to run on BlackBerry devices. The new line of BBX phones will also focus more on touchscreens and less on physical keyboards, which have been a hardware trademark of BlackBerry phones. Those fairly lacklustre items aside, we still know very little about the BBX. But that isn’t deterring Leon Cooperman, RIM investor and hedge-fund manager slash founder of Omega Advisors Inc., which bought a sizeable stake of about $28 million in RIM last quarter.

According to the Dow Jones Newswires, he also recently reported a purchase of 1.43 million shares in RIM in a regulatory filing, betting that the BlackBerry-maker’s new devices are attracting customers. “We bought (the shares) because we think (the stock) is undervalued, and we will be proven right or wrong in a few weeks when they report results,” Cooperman is quoted as saying in an article in businessmobilebriefing.com.

While we at Plastic Mobile love a tale of the underdog rising to acclaim, we’re not convinced we’d bet our beer money on the new BBX operating system.

Tweet us @plasticmobile with your verdict – will Cooperman and RIM be high on a much-needed success, or will they live to eat their BlackBerries?