It’ll be a tough day for RIM today. The stock market just opened and showing a dip of 12%, down to a ridiculously low $13.30 – sitting around the January 2003 era, and a far cry from the $144 price in June 2008. This now apparently brings their market cap around $7.01 billion. Investors clearly aren’t happy with yesterdays news of our once leading edge, once admired Canadian tech leader. Q3 numbers showed that 14.1 million smartphones were shipped and 150,000 BlackBerry PlayBooks – plus informing all that the anticipated BlackBerry 10 devices are now expected to “reach market in the latter part of calendar 2012”.
Analysts are going crazy this morning, stating that “This could be game over for the BlackBerry franchise”… which might be a bit extreme at this point, but I can see where they are coming from. However, RIM now has 75 million BlackBerry subscribers and hands down have one of the most secure email platforms.
Being Canadian we want them to have great success, but today will be a tough day to watch.
What are your thoughts on RIM’s future?
Update at 1:27pm: I just went to check the stock price to see if it’s improved. Stick hovering negative 12% today…
Update #2: closed down 11.17% to $13.44 – the last time RIM was at this price was middle of January 2004.
Watch the stock price here