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RIMM Reversal of Fortune

March 30, 2012 1 comment

As a former BlackBerry user, I have watched with fascination as Research in Motion (RIMM) has managed to lose its position as market leader.

Image representing Research In Motion as depic...

Image via CrunchBase

Unfortunately, for the RIMM stock price, the company has waited for too long to face the grim facts.

Research in Motion’s inability to face the challenges that faced it, led to a dramatic reversal of fortune. First, let’s look at the shorter-term chart.

RIMM Short-Term Chart 3-29-12

RIMM's declining stock chart

For a short time it looked as if RIMM might bounce off the bottom and begin to ascend in price. However, RIMM dropped through support and is now in a descending price channel.

The view is even more dramatic looking back over the past year.

RIMM 1-Year Chart 3-29-12

RIMM's stock price decline this past year has been spectacular

Who could have seen this coming? Well, perhaps, those who switched from BlackBerry to an iPhone or Android phone. Oh yeah, and Reggie Middleton.