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RIM shares fall as hopes for new BlackBerry fade

November 27, 2012: 1:53 PM ET

After a few moments in the sun, smartphone pioneer Research in Motion is again feeling the wrath of fickle investors.

Shares of the BlackBerry-maker fell 6% in afternoon trading Tuesday.

RIM (RIMM) shares had been on a tear over the past few months. The stock rose to about $12 on Monday, nearly double the low it hit in late September.

The advance has been driven in part by hopes that RIM, which has seen its share of the mobile device market decimated by Apple's (AAPL) iPhone, will finally release a new product.

RIM said earlier this month that its BlackBerry 10 operating system will debut on Jan. 30, a year after the company's next-generation smartphones and software were slated to go on sale.

Related: Ericsson sues Samsung over patents

But the optimism faded Tuesday as investors question whether the BlackBerry brand can recover following such a long hiatus in the dynamic market for smartphones.

On StockTwits, users pointed to a bearish research report from Morgan Stanley and data from Kantar Media that underscored BlackBerry's declining market share.

asymco: $RIMM reached 1.6% smartphone market share in the US. No wonder the stock is booming.

Macke: $RIMM is down b/c it's doomed and the squeeze is over, it's just impolite to say so in a headline.

Another StockTwits user was not convinced RIM would even deliver on schedule.

TrendRida: Fairly certain $RIMM has another product delay in 'em. That;s just the way they roll...

But a few users were quick to rush to RIM's defense.

Bodhi: $RIMM the irony is that market has overlooked fact that every single one of RIM's 80 million customers is excited to upgrade to new device.

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Ben Rooney
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

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