Stock Fluctuations
In June 2011, RIM stock fell to its lowest point since 2006. On December 16, 2011, RIM shares fell to their lowest price since January 2004. Overall in 2011, the share price tumbled 80 percent from January to December, causing its market capitalization to fall below book value. By March 2012, shares were worth less than $14, from a high of over $140 in 2008. From June 2008 to June 2011, RIM's shareholders lost almost $70 billion, or 82 percent, as the company's market capitalization dropped from $83 billion to $13.6 billion, the biggest decline among communications-equipment providers.
Shares price fell further on July 16, closing at $7.09 on the Toronto Stock Exchange, the lowest level since September 8, 2003, after a jury in California said RIM must pay $147.2 million as a result of a patent infringement judgement that was subsequently overturned.
On November 22, 2012, shares of RIM/BlackBerry surged 18%, the largest gain of the stock in over three years. This was due to National Bank of Canada analyst Kris Thompson's announcement that the new BB10 devices were expected to sell better than anticipated; along with raising the target stock price.
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“I consider that a man’s brain originally is like a little empty attic, and you have to stock it with such furniture as you choose.”
—Sir Arthur Conan Doyle (1859–1930)