Research in Motion CEOs Now Worth One Dollar
“You get what you pay for,” deadpans Larry Dignan in response to word that Research In Motion’s (NASDAQ:RIMM) co-CEOs will cut their salaries to $1. Dignan thoroughly blasted the company’s latest earnings call promises of a coming rebirth. Unhappy activist investors are expected to have a bigger following after RIM’s most recent blunder. Meanwhile, Nomura says shares may have to go lower than $10 in order to draw interest from M&A.
Here’s how Research in Motion is trading on the news:
Research In Motion Limited (NASDAQ:RIMM): RIMM shares recently traded at $13.28, down $1.85, or 12.23%. They have traded in a 52-week range of $14.80 to $70.54. Volume today was 45,125,999 shares versus a 3-month average volume of 22,883,900 shares. The company’s trailing P/E is 2.42, while trailing earnings are $5.48 per share. Get the most recent company news and stock data here >>