The bloodbath continues today for RIM. After announcing disappointing financial results and declaring their upcoming devices will be delayed, the market is reacting and their share price is currently down over 20%, or $7.00/share. To make matters worse their 6th biggest shareholders with approximately 10.2 million shares has lost faith, selling over 50% of their stake in the company.
Jarislowsky Fraser Ltd had about $361 million tied up in RIM stock but Chairman Stephen Jarislowsky said “We are on the way out. The stake has been reduced by more than 50% or even more… They are resting on their laurels… Steve Jobs is a much better marketer than RIM”.
What do you think… will RIM make it back to the glory days?