Oh dear. It hasn’t been a very good year for RIM at all. We’ve had the BlackBerry PlayBook launching without a native email client, the recent network outage, and a constant stream of figures (of the numeric variety) painting doom and gloom.
On Thursday RIM’s shares hit a 52-week low of $18.37, which is lower than the per-share value of its patents, property, and other assets.
Various analysts are throwing in their two cents, unanimously predicting further depression for the Canadians. There’s even suggestion that RIM’s shares are heading for a single-figure value.
“Clearly, it’s now single-digit market share in the United States — soon, I think it will be single-digit worldwide,” said Veritas analyst Neeraj Monga.
“RIM needs to deliver new, fresh, exciting products to the market and increase its pace of innovation and execution if it is going to have any chance of reasserting its position in North America,” adds Tim Shepherd of Canalys. “It badly needs to deliver on its potential with its new BBX platform.”
Richard Fogler of Kingwest & Co says: “The market, at book value, seems to be saying not only is RIM going to not get bigger in the future, but it’s actually going to shrink. Everyone’s frightened of what’s going to keep happening tomorrow.”
That really is quite depressing. Anyone know any good jokes?