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RIMM/BlackBerry Stock Prices Plummet After BlackBerry 10 and New Hardware Launch (Updated: Shares Down 12-Percent at Close)

by Roy Choi | January 30, 2013January 30, 2013 9:35 am PDT

BlackBerry 10 - RIM Stock Falling

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Following BlackBerry’s official Z10 and Q10 announcement, Verizon said it will offer both devices on its huge LTE network. The company didn’t disclose an exact date, but did say the Z10 (both black and white) will be priced at $199.99 with a two year contract. Incidentally, the white model will be a Verizon exclusive.

BlackBerry (or Research In Motion) announced this morning its new operating system and a pair of flagship devices, the full touchscreen Z10 and QWERTY-packed Q10.

While there are a lot to be excited for (e.g., 70,000 apps, plenty of content, BlackBerry Hub, BBM video sharing and screen sharing, Alicia Keys) it looks like investors are still weary of BlackBerry’s prospects. As of this moment, RIMM is down nearly 9 percent bounching around $14.24 – 14.35. This is down significantly from the high this morning at $16.62 at the start of today.

Updated: RIMM is trading at around $13.78 at the close of today’s trading session, down 12.01 percent from today’s opening price.

So far BlackBerry 10 and the newly announced devices seem pretty cool. I’m particularly jazzed about the multi-tasking that BlackBerry Hub is capable of doing.

So what gives? Was BB10, Z10 and the Q10 not enough to steer a sinking ship? Was changing the name of the company that shocking to result in a drop in price? Neither the tech industry nor NASDAQ are fairing as bad today, with small gains coming from both so far. Could it possibly be delays in rolling out (Z10 and Q10) devices on different days and in different markets? Sure there were some drop in GDP numbers, but the rest of the market hasn’t seen more than a blip in its prices.

For BlackBerry’s sake, I hope this is just a result of automated trading and selling off from previous highs. Hopefully actual investors have more faith in BlackBerry and we see the price regulate through out the day.  So far we like what we’ve seen at CES and at today’s event and hope that BlackBerry continues for improved hardware and software. We’ll wait for Todd’s hands-on later today and wait for the full review. But there is no reason why the stock should have taken such a hit when BlackBerry delivered a fairly good device. I’ll blame the trading bots for the drop in price.


Roy Choi

Roy Choi is a Southern California native. He has been infatuated with technology reviews ever since he bought his first crummy laptop in the summer...