Research In Motion (RIM) shares drop 10 percent after brokerage report
Research In Motion (RIM) shares plummeted by as much as 10 percent today after a brokerage report revealed that retail sales trends for BlackBerry smartphones in Western Europe and North America have been a little disappointing.
A note from analyst James Faucette of Pacific Crest Securities on Monday said that something called “sell-through” trends throughout the middle of October have been slightly disappointing. There could be possible risks to Novembers quarter results which are building as the company is indeed becoming more reliant on what they call “aggressive and successful” launches of its BlackBerry Bold and BlackBerry Storm smartphones in that states.
RIM shares are down 7.1 percent to C$65.26 on the Toronto Stock Exchange, getting as low as C$63.25, or down 9.96 percent. What we are waiting for is the Q3 or Q4 results, surely the BlackBerry Storm, Bold and Flip will bring it all back together.
Source – Reuters