Research In Motion (RIMM) Getting Clobbered, Stock Down 9%
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Shares of Research In Motion (Nasdaq: RIMM) are being attacked this morning despite no news from the company. Traders are attributing the weakness to an analyst report from Pacific Crest Securities in which the firm suggests that sell through trends for BlackBerry's devices have been disappointing in both North America and Western Europe.
After opening today's trading session at $59.78, about 1.3% higher than Friday's closing price, shares quickly began tumbling, and were already down about 5% just 10 minutes after the opening bell rang. Research In Motion stock most recently traded at $53.89, down 8.7% this morning.
Research In Motion is leading the Nasdaq lower this morning. After opening higher, Nasdaq bellweathers Google (Nasdaq: GOOG) and Apple (Nasdaq: AAPL) are now also trading in negative territory.
Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communications market worldwide.
After opening today's trading session at $59.78, about 1.3% higher than Friday's closing price, shares quickly began tumbling, and were already down about 5% just 10 minutes after the opening bell rang. Research In Motion stock most recently traded at $53.89, down 8.7% this morning.
Research In Motion is leading the Nasdaq lower this morning. After opening higher, Nasdaq bellweathers Google (Nasdaq: GOOG) and Apple (Nasdaq: AAPL) are now also trading in negative territory.
Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communications market worldwide.
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