RIMM Drops it Big Time (Coke Spill Style)

Horrible Bosses - Coke Spill Cocaine

Research in Motion takes a page from Charlie day and drops a fortune on the ground.

Research in Motion (RIMM) shares fell19% on Friday for a YTD decline of 49%.  Cue Charlie Day and team from Horrible Bosses and dump the coke on the floor.

 

RIM got beat hard with one of the worst analyst downgrades we have ever seen by Bank of America.  RIMM shares finished the day at $7.39 and BofA things the party won't stop until they crash at $6 or worse.  Here's what BofA said:

RIM's prospects appear to be turning from bad to worse. This by itself is not a surprise to us, but greater than expected losses, and our growing disbelief in the company's ability to find strategic alternatives swing us from being on the sidelines to lowering our rating to Underperform. In our view, the risk of total value destruction over the next few years is possible as at this point we cannot see the light at the end of the tunnel.…We do not believe RIM will be able to build its own ecosystem and think this opportunity has passed. In our view the reality is challenging and Microsoft's entry into this market is only likely to make things worse for RIM given MSFT's strong enterprise position.

Nice work RIM and thank you BofA for ripping the company a new asshole.  What could be worse?  A big coke spill.

This trailer makes Charlie Day a star 1:27 seconds in when he crashes into the garage and spills cocaine all over the floor.  Enjoy:

 

 

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