Research in Motion Shares Down nearly One-Third since March?

Research in Motion (NASDAQ:RIMM) shares are down 30% since March, from the $75 range to today's price of $52.69.  RIM down almost 1/3, really?

Sure the iPhone (AAPL) and Droid (GOOG) are stealing away the Blackberry's market share, but is that all really worth 1/3 of RIM's value?  Is the recent drop this week from the Blackberry Ban of Saudia Arabia, United Arab Emirates, and now possibly Indonesia going to hurt the company that bad? Its as if Beavis and Butthead both yelled fire and set the Blackberry on fire along with the company's stock.

The RIM Torch 9800 has already burned out according to the media (that would be the Buttheads), but when there is so much hate, there also lies opportunity.

To label Research in Motion (NASDAQ:RIMM) a falling knife of a stock seems a bit rash for a company that raked in $4.24 billion in its last quarter. Going forward RIM expects revenue to be $4.5 billion in the next quarter with an EPS of $1.37 vs. $1.31 consensus, but when Wall Street has no faith in you -- your stock drops like a rock.  No one is willing to pay for a "growth" stock when the public believes the growth is over and the latest 'Blackberry Ban' news is also adding fuel to the fire.  FIRE, FIRE, FIRE!!  Easy Beavis.

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The latest round of analyst estimates on RIM since their last earnings call shows the massive drop in target prices:

Thanks to all the recent negative press on RIM, its market cap has been reduced to $29 billion and its shares are now just 9.71% away from its 52-week low. Research In Motion Ltd (RIMM) shares have traded between $47.42 and $88.08 over the past 12 months.  Now is the time if you have any faith in the company to invest as its P/E Ratio hit 11.6 and EPS of 4.59 -- the stocks has become affordable.

Time will tell if the new Blackberry Torch 9800 is a success or not and if the company can compete with other smart phone markers.  At this point there appears to be a rush to short RIMM, betting the stock is going to continue to fall.  I say the more hate the better, I would love to pick up RIMM at a new 52-week low and invest in a company that has more than 41 million subscribers all over the planet.  Let the critics and analysts set the Torch and RIM on fire in the near term, it just makes it cheaper to invest in Research in Motion (NASDAQ:RIMM) shares by the hour.