RIM Shares Hit New 52-Week Low, Down 25% in One Month
Research In Motion Limited (NASDAQ:RIMM) shares have lost 1/4 of their value in the past 30 days and to make matters worse its stock hit a new 52-week low today of $42.87.
There are apparently no buys for Research In Motion Ltd (RIMM) today, despite its shares now trading dirt cheap with a P/E Ratio of 10 and EPS of 4.57. Heading into the final hour of trading RIMM shares are at $43.15, down -5.34% or $2.44. RIM shares have traded between $45.05 and $88.08 over the past 12 months.
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The onset of downgrades, Blackberry Ban threats and poor response to the new Blackberry Storm has been too much for RIM shares. To label Research in otion (NASDAQ:RIMM) a falling knife of a stock seems a bit rash for a company that raked in $4.24 billion in its last quarter and has over 41 million subscribers all over the globe. Going forward RIM expects revenue to be $4.5 billion in the next quarter with an EPS of $1.37 vs. $1.31 consensus, not bad for a company that just hit a new 52-week low.