To say that yesterday wasn’t a good day for Research in Motion would be a bit of an understatement. The company announced second quarter fiscal 2012 results yesterday and pretty much everything said was a disappointment. It looks like, however, RIM’s night may have been even worse. The stock (RIMM) price dropped almost 22% in after-hours trading down $-6.45 to $23.09 one hour before the markets open.
Research in Motion co-CEO Jim Balsillie said yesterday in RIM’s Q2 investors conference call that RIM’s fiscal year 09 is proving to be extraordinary. I wonder if he would say the same thing after RIM’s more the 20% plunge in after-hours trading last night.
This chart doesn’t show the 20% drop in after-hours trading so we will update it with one that looks much more bleak at market open…
Now RIMM is down almost 25%.
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?