BlackBerry maker Research In Motion Ltd. got hammered on the stock market Wednesday as RIM warned investors to expect quarterly profit at the low end of its forecast. Despite subscriber growth, RIM's margins are low. RIM has been aggressively going after market share but they've had to do it at a cost, and that cost is hurting their bottom line.
Investors dumped RIM shares and the stock lost 15% of its value. The stock closed down $8.28, to $48.76 Wednesday.
Investors dumped RIM shares and the stock lost 15% of its value. The stock closed down $8.28, to $48.76 Wednesday.