RIM swoons on grim results, shareholders fret

Research In Motion's (RIM.TO) (RIMM.O)'s dismal results and failure to offer a clear strategy to arrest its sad decline pushed its shares down more than 20 percent on Friday, drawing parallels with other technology
stars that have fallen from grace.

The BlackBerry maker's shares plummeted below $29, hitting
the lowest level in almost five years, the morning after it
missed some of its own limp forecasts and reported a drop in
quarterly profit.

The shares are down more than 60 percent
since February. And even more worrying, some of the company's largest
shareholders are showing signs of bailing out.

Read Full Article from Reuters

- Posted: 2011-06-17 11:16:48

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