RIM Tumbles 19 Percent on Cash Concerns
Investors appear to be betting Research In Motion Ltd. won’t have enough financial firepower to successfully launch its new mobile operating system as a stand-alone company.
The company’s shares fell 19 percent to $7.39 on Friday, driving the company’s market capitalization to $3.81 billion, less than 1/20th of its peak value in 2008.
The selloff came a day after a series of ugly announcements that included a delay in the debut of its next BlackBerry phone, a larger-than-expected loss and as many as 5,000 layoffs.
