What’s Happening? RIM Shares are Down Significantly for Third Day in Row

In 2008, RIM shares broke $140. In 2011, they lost 75%. Now, they’re down more than 90% from that 2008 high. We thought the stock had bottomed out at $14, where the debt-free company had a crazy-low price to earnings ratio of just three. Maybe not. 

Shares in the Waterloo-based BlackBerry maker have dropped substantially for three days in a row—the three days of BlackBerry World 2012, which is likely not a coincidence. Each day, the company lost at least 5%. As shown in the chart above, it’s lost 15.83% this week, down by a big block each and every day.

RIM’s P/E ratio is still below six, and the company boasts $2 billion in cash, plus promising opportunities in emerging markets overseas. But investors simply have no faith in the company’s ability to make a comeback. Did BB10 not impress? Is CEO Thorsten Heins’ reluctance to sell the company keeping folks away? What is happening to RIM right now?

Image: Google Finance