Welcome, Guest! - or
Easy to remember!  »  VinNews.com

New York - BlackBerry Maker RIM's Stock Sinks Below $10

Published on: June 4, 2012 07:31 PM
By: AP
Change text size Text Size  

Richard Drew, APNew York - Research In Motion’s stock fell below $10 on Monday for the first time since December 2003.

The decline in share price on Monday came as its rival Samsung Electronics said its new Galaxy S III smartphone will be launched by all four of the major U.S. wireless carriers this month.

RIM shares dropped60 cents, or 5.9 percent, to close at $9.66.

The maker of the BlackBerry mobile device has steadily lost ground to Apple Inc.‘s iPhone as well as phones that run Google Inc.‘s Android software, such as Samsung’s.

Shares of the U.S. smartphone market dropped from 44 percent in 2009 to 10 percent in 2011, according to the NPD Group.

Research In Motion Limited, based in Waterloo, Ontario, said last Tuesday that it expects to post an operating loss for the current quarter and will have to lay off a “significant” number of employees. The company has also hired a team of bankers to help it weigh its options. Thorsten Heins, the CEO, said the company is not actively looking to sell itself.

Advertisement:



More of today's headlines

New York, NY - Former President Bill Clinton warned Monday that a Mitt Romney presidency would be "calamitous" for the nation and the world, going further than even... Hebron - A Palestinian at the Tomb of the Patriarchs in Hebron stabbed and lightly wounded a Border Police officer  on Monday. An officer at the scene opened fire and...

 

Total3

Read Comments (3)  —  Post Yours »

1

 Jun 04, 2012 at 08:45 PM KVETCH Says:

aftermath of the Asifa

2

 Jun 04, 2012 at 10:38 PM DrMSPhD Says:

This is what I wrote on August 3rd, 2011.

" Aug 03, 2011 at 01:05 PM DrMSPhD Says:

I've been shorting Rimm since it was around $50. I plan on holding until it's around 15.
In my opinion that they will be bought out when their market cap falls to about 8 billion (mainly just so that their patents can be acquired)"


I ended up cashing in at an average of 13 bucks

3

 Jun 05, 2012 at 08:20 AM Dovid_from_Modiin Says:

Facebook should purchase RIM

4

Sign-in to post a comment

Click here to sign-in.

Scroll Up
Advertisements:
Sell your scrap gold and broken jewelry and earn hard cash sell gold today!