BlackBerry was downgraded by Goldman Sachs yesterday and investors are running. Goldman Sachs analysts Simona Jankowski and Doug Clark downgraded BlackBerry from Hold to Sell based in large part on what the analysts see as a "challenging phase."
The analysts said the bounce in BlackBerry stock over the last year has been due to cost cutting measures. Going forward, they don't see how BlackBerry can maintain the pace. BlackBerry would have to grab marketshare back from the big boys like Apple and Google, and that just doesn't seem likely.
The news send the stock down 7% in one day and it's on its way to 10%.
It seems BlackBerry can't catch a break. As soon as they get some good news, someone else is pointing to bad news. John Chen will have to keep his eyes on the prize and ignore all these distractions. Make something spectacular and people will buy it.
The analysts said the bounce in BlackBerry stock over the last year has been due to cost cutting measures. Going forward, they don't see how BlackBerry can maintain the pace. BlackBerry would have to grab marketshare back from the big boys like Apple and Google, and that just doesn't seem likely.
The news send the stock down 7% in one day and it's on its way to 10%.
It seems BlackBerry can't catch a break. As soon as they get some good news, someone else is pointing to bad news. John Chen will have to keep his eyes on the prize and ignore all these distractions. Make something spectacular and people will buy it.