Page loading . . . one moment loading all images
Advertisement     -     Your Ad Here
By GeekBerry Staff on April 11th, 2008 at 1:27 pm
Filed Under — NewsRIM
819 views
Submit to Digg!
Share on Facebook!
Submit to StumbleUpon!
Submit to Twitter!
Post to MySpace!
More Sharing Tools...
Rate & Recommend
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 4.00 out of 5)

RIM takes a beating in stock market turmoil

rim-point-stock-dipRIM shares where down 11% on 1/23/08 at market close. We believe that it was more just a victim of being in the tech sector than an indication of what the stock is going to do all year but it still sucks just the same.

We all love our BlackBerry’s for sure, but the maker of the little device needs a little more love after the company took a beating on stock markets amid some major turmoil on world markets.

Research in Motion trades on the Toronto Stock Market (TSX) and on Tuesday and Wednesday that market took everyone on a wild ride . RIM, by virtue of its dominance in the smartphone market, has become a bellwether stock and on Tuesday its shares dropped 11 percent on fears of a US recession. With other key tech stocks like Apple and Motorola taking a dive there are fears a global recession will slow up the tech, computer and smartphone market. Of course, there is no evidence for that but who needs empirical evidence to get in the way of speculation when it comes to market journalists.

The good news is that RIM remains a well-run and strong company. Despite the big push from Apple and its iPhone, RIM has maintained a strong market share and commands 39 percent of the world smartphone market. Fears are being voiced that an economic downturn will impact the consumer market for electronic devices although, again, that is speculation.

The reality is that RIM’s ups and downs are more a reflection of a general jitteriness in the markets as a whole. It will be interesting to see how the company positions itself if indeed the economy does go into recession. The company is aggressive and is diving into Asian markets – areas that may not suffer as much as the US.

It’s worth noting that RIM’s stock was trading at just over $50 a year ago, was up to $126 in October and closed at $88 on Wednesday. So a rough ride and it isn’t over yet.

819 views
Submit to Digg!
Share on Facebook!
Submit to StumbleUpon!
Submit to Twitter!
Post to MySpace!
More Sharing Tools...
Comments
(0)

Post a Comment
Get involved and post your thoughts.
No Comments
Read the comments left by other users below, or:

Guidelines: You share in the GeekBerry.net community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent.

No Responses to
“Research In Motion Stock (RIMM) Down Big”
  1. The GeekBerry Team
    The GeekBerry Team
    April 10th, 1984  at  4:20 am —

    Be the first to comment, share your thoughts and join the conversation today! ;p

0 pings
Pings & Trackbacks
{ JOIN the CONVERSATION }




XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 AvatarNot sure how to get an image with your comment?

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).