Why Research In Motion Shares Got Crushed
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What: Shares of Research In Motion have gotten crushed today, down by 11% at the low, after the company unveiled its new BlackBerry 10 operating system platform.
So what: The launch of BB10 has been years in the making, and CEO Thorsten Heins showed off two new devices at a special event in New York. The Z10 is the flagship model that is built entirely around a touch interface, while the Q10 is similar to previous BlackBerrys with a hardware keyboard. The entire company is riding on the success of BB10.
Now what: The biggest negative surprise for investors today was that neither device will launch in the significant U.S. market for at least two more months. The Z10 is expected to see a stateside launch in March after U.S. carriers complete testing, while the device will be available within a week in the U.K. and Canada. The Q10 should arrive shortly later in April. Investors have expressed optimism in recent months, with shares nearly tripling from lows lately, but are disappointed that the pair of smartphones are not ready for the U.S. market yet.
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The article Why Research In Motion Shares Got Crushed originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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