RIM's stock shot up 5% on BlackBerry announcement yesterday, but plunges back down even deeper today
It looked like a glimmer of hope for RIM investors—news of numerous new OS 7-based BlackBerrys launching this very month triggered a 5-percent surge in the Waterloo company's stock.
Today, the stock has plunged by nearly 6 percent.
The radiance around the company lasted less than 24 hours as Research In Motion's stock has dipped back down to below $24, a five-year low from a high of $140 in 2008. This year alone, the stock has lost well over half of its value.
When good news happens, the stock sees a slight uprising. But when bad news happens, the stock is completely devastated. This unbalance is caused by the brittle wariness of investors and makes a recovery of RIM's share price difficult at best.
The company is now trading below four times price-to-earnings.
