Blackberry Stock Price History: Yesterday was one of the worst days for Research In Motion Ltd (NASDAQ:BBRY) BlackBerry in a long time. Despite the fact that the once dominant smartphone company is trying to make a return to the top of the industry, nothing seems to be going right.
On Thursday, due in large part to analysts questioning the direction of the company and how it will hold up against the competition, shares of Research In Motion fell roughly eight percent. This is a big hit for the company as it hopes to regain its footing with a new operating system along with a couple (Z10 and Q10) new devices.
Yesterday, we also posted this piece: Research In Motion Ltd (NASDAQ:BBRY): Here’s Why Shares Are Falling Today…It’s Not Pretty
We talked about shares dipping throughout the early trading hours. Unfortunately for the company, things did not get any better as the day wore on.
Today, Reuters discussed Research In Motion greater detail in this article.
Here is a brief excerpt:
“Discounting of the Z10, its recent handset meant to take on the likes of Apple Inc’s iPhone and Samsung Electronics Co Ltd’s Galaxy line, has also raised concerns, according to one trader.”
Although the days of Research In Motion/BlackBerry dominance don’t seem too far in the past, investors are worried that the company will never be able to regain a substantial amount of market share.
Pacific Crest analyst James Faucette touched on the problems that the company is facing and what the future holds. Here is what he had to say:
“(The) recent optimism surrounding the ability of Research In Motion Ltd (NASDAQ:BBRY)’s new BlackBerry 10 products to get Research In Motion/BlackBerry back to long-term profitability will ultimately prove unwarranted. We see a combination of market maturity, more aggressive pricing from competitors and smaller resources than those of competing ecosystems frustrating the comeback attempt.”
Perhaps, the biggest shame of all is that Research In Motion Ltd (NASDAQ:BBRY) hit its 52-week high during the first month of 2013. Things were looking up just a few months ago, but now the future does not seem nearly as bright. The stock has lost a quarter of its value in four short months.
The Reuters story shared yesterday’s closing numbers:
“BlackBerry shares were down at C$13.84 on the Toronto Stock Exchange. Its Nasdaq-listed shares were down 7.8 percent at $13.53 in afternoon trading.”
With everything seemingly working against Research In Motion/BlackBerry right now, what does the company need to do in order to get back on track? Share your thoughts in the comment section below.
To see what CEO Thorsten Heins thinks about his company, see his video interview on the following page: