This Isn't Going To Help RIM's Free Falling Stock Price

Analysts keep running away from Research In Motion.

This morning Susquehanna slashed its price target to $31 from $46. The stock is trading at ~$38 right now. Citi analysts also downgraded the stock from “buy” to “hold” and gave it a $45 price target.

Research In Motion is basically the next Nokia. It’s rapidly losing share and relevance. So far we haven’t seen anything to suggest it’s going to get back on its feet.

As for these analyst downgrades, it might have been more useful to hear this earlier. RIM’s stock has been in a nosedive since February. It’s nearing the lows it saw during the fallout from the financial crisis:

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Photo: Yahoo Finance

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