The Unofficial BlackBerry Weblog
After Reaching an all-time high a week or so ago, Research in Motions stock (symbol RIMM) has taken a bit of a dip over the passed few days.
Just yesterday RIM’s stock fell 6.3% and is down another 2.5% today at the time of this posting.
What do you think is causing the slide?
[…] and our hosted exchange server reviews while you’re here!Other than Research In Motion’s stock taking a dip, there’s not much going on in BlackBerry land today (we wouldn’t make a big deal of the […]
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The market is having jitters largely due to the subprime mortgage mess and the rising price of oil. RIM’s stock has declined along with just about all other stocks. It reflects worries about the macroeconomy, and not anything specific to RIM.
@ Thought
What you say is true, but it goes slightly deeper. While the subprime issues remain, it spreads into the credit market with inflation rearing it’s ugly head around the corner, if it hasn’t already arrived. Oil is a concern, but the recent surge has to do with the option market and calls for a $100 price tag. It should go down moderately, especially if it isn’t a bad winter.
RIMM can get hurt since it’s a ‘luxury’ item. While businesses will continue to purchase and spread the berry, the consumer base may not be able to afford the berry or it’s data plan in a tight market. New phone sales spur the increase in revenue, while attracting new customers. Hopefully those consumers will have $$$ to spend in a down time. As a shareholder, I’m in a hold pattern. Not buying, not selling. I believe in them, awesome products and service, but tough times are ahead for all…
Speaking of consumer confidence: it is only anecdotal evidence, but from what I’ve seen this weekend the holiday shopping season appears to be off to a robust start. The malls were packed, the roads were jammed…I’ve never seen this type of activity on the weekend before Thanksgiving.
So if this is any sign, the economy is holding up well.
I’ve always thought the stock went up too fast so this could be a correction. Also take a look at the employment site on their web page. Over 900 jobs available, 525 in Canada alone. So either they are badly understaffed and underutilizing their full potential, or they are trying to grow with reckless abandon.