Research in Motion Ltd. (Nasdaq: RIMM) must be stupid or have no other options.
After yesterday's closing bell it announced delays to the BlackBerry 10 phone release, plans to cut 5,000 jobs, and posted a quarterly loss that was five times bigger than anticipated.
RIMM reported a first-quarter net loss of 99 cents a share which was far lower than the 7-cent loss predicted by analysts and well off last year's profit of $1.33 a share for the same period. Many analysts think that RIMM has little chance of survival as a profitable company.
"They either sell, break up the company or die," Matt Thornton, an analyst at Avian Securities LLC in Boston toldBloomberg News. "It is just a question of when."
Source: http://moneymorning.com/2012/06/29/stock-market-today-is-this-the-end-for-rimm
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