RIM Stocks Dive After New CEO Announced
If anything can be taken from what could be a good press release versus a bad one, it's watching what happens to your stock value afterwards. Research In Motion made an announcement that their two Co-CEO's Lazaridis and Balsillie would step down in those roles to take other responsibilities at RIM. Shortly after that announcement came the naming of the new RIM President and CEO Thorsten Heins. After RIM had made some effort to instill some investor and customer confidence in the moves by recording a candid sit down video with Thorsten, the stocks reflected an unstable view from the public.
Even though the stocks fell over 8% by opening Monday morning, the stocks took another small dive opening Tuesday Jan. 24th 2012, but have started to show some recovery. A downward line of 8% sounds bad, but we have to remember that the stock was only sitting just over $17 since last Friday January 20th 2012, and went down to $15.55 by the end of the trading day Monday. So really, it's not that bad considering it was at $12.52 just a month before that on December 20th 2011 after they announced we wouldn't see BB10 devices until Fall 2012. RIM is now concentrating on the strength of the PlayBook 2.0 release and solid rebuilding with QNX devices in 2012, which should help bring RIM back into the limelight.
Source - Google Finance
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