Research in Motion (RIMM) stock was downgraded Monday by Piper Jaffray from “Out Preform” to “Market Preform” and the price target dropped from $100 per share to $75 per share.
RIM’s U.S.-traded stock fell $5.10 (U.S.) or 7.58 per cent to $62.22 Monday. In Toronto, shares of RIM fell $6.34 (Canadian) or 7.66 per cent to $76.39. The stock, which has soared 275 per cent in the past three years and is up 25 percent in the past 12 months, has fallen 16 per cent since the start of January. RIM’s U.S.-traded stock fell $5.10 (U.S.) or 7.58 per cent to $62.22 Monday. In Toronto, shares of RIM fell $6.34 (Canadian) or 7.66 per cent to $76.39. The stock, which has soared 275 per cent in the past three years and is up 25 per cent in the past 12 months, has fallen 16 per cent since the start of January.