More bad news for RIM
Today brought with it more ugly news. RIM shares continued their downward spiral, hitting a new 52-week low of $18.61, well below its book value of $18.92 at the end of last quarter, according to Bloomberg. That move dropped RIM’s already much-diminished market cap south of $10 billion — $9.78 billion as I write this.
A brutal decline for RIM, whose shares once traded at $147.55, and a nasty hit to the personal wealth of its founders, who are little more than half-billionaires now.