Beleaguered RIM shares dive to 9-year low after Morgan Stanley downgrade

“Shares of BlackBerry maker Research In Motion dove to a nine-year low Monday after Morgan Stanley downgraded the stock, saying RIM’s challenges are piling up,” The Associated Press reports.

“Research In Motion Ltd.’s shares closed down 75 cents, or 7.7 percent, to $9.11 on the Nasdaq,” AP reports. “The bottom for the day was $9.01, the lowest level since 2003. RIM shares have lost 94 percent of their value since their 2008 peak.”

AP reports, “The Waterloo, Ontario, company has been struggling to adapt to a world where Apple Inc.’s iPhone sets the standard for how a smartphone should work, and its sales have plummeted… Morgan Stanley’s Ehud Gelblum expects BlackBerry 10 to bomb, leading to a more rapid decline in BlackBerry sales than other analysts have projected.”

Read more in the full article here.

9 Comments

  1. Just a thought. Apple generally follows the NASDAQ as far as general trending. Check it out. However, at the end of each month, it is usually fairing better overall.

  2. You guys seem to forget that RIM still have the government and miliatry market in their back pocket, even if they are losing out in consumer and corporate markets right now. They will not just disappear overnight. Actually, Blackberry 10 is looking very good and if the market likes it then the opportunity for a ‘bounce’ is definitely there. Do you think Warren Buffet stands on the sidelines gloating when companies experience a lack of love from the market? How about think about funding your new iPad 3 on the back of RIM – oh, the irony!

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