Watch Research in Motion Crash in Slow Motion
Poor fourth quarter guidance and an unimpressive earnings conference call caused Research In Motion (NASDAQ:RIMM) to plunge to a low not seen since early 2004. The announcement that RIM’s QNX-based BlackBerrys will be delayed until late 2012 was a shock to many who already expected bad news. Plus, there are doubts about RIM’s plans to invest $100M in price cuts and advertising to promote BlackBerry 7 devices.
Here’s how Research in Motion shares are trading as they continue to evaporate:
Research In Motion Limited (NASDAQ:RIMM): RIMM shares recently traded at $13.40, down $1.73, or 11.43%. They have traded in a 52-week range of $14.80 to $70.54. Volume today was 26,623,603 shares versus a 3-month average volume of 22,883,900 shares. The company’s trailing P/E is 2.45, while trailing earnings are $5.48 per share. Get the most recent company news and stock data here >>