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Research in Motion investors didn’t like what they heard today at the struggling company’s annual shareholder meeting, with RIM’s share price down more than 5 percent Tuesday.
The BlackBerry maker’s stock price has been on a steep decline in the past few years, and in early June, the stock fell into single digits for the first time in nearly a decade. RIM hasn’t done enough to counter mobile threats from Apple, Google, and Microsoft, and its next operating system — BlackBerry 10 — has been delayed until the first quarter of 2013.
To get the company back on track, RIM chairwoman Barbara Stymiest said at today’s shareholder meeting that the company is seeking out new board members with technical experience. And there’s word that the company is looking to save money by getting rid of one of its private jets. There will be no changes to the board at this time.
But that’s not enough to make investors believe in the company again. During late-day trading on Monday, RIM’s stock on the Nasdaq exchange dipped to a low of $7.20 a share. We will update this post at the end of trading with a final price for the day.
Take a look at the chart below to see RIM’s share price’s rise and fall during the past decade: