RIM’s top executives haven’t purchased any shares in their own company in over a year. Technically speaking, it’s RIM insiders who haven’t reported any share purchases since July 2010 where the company’s stock price has fallen over 60%, according to Bloomberg. Interestingly RIM top execs have sold stock 11 times over that time period.
According to Gartner Inc., during the second quarter of this year, RIM’s global market share of smartphones through their BlackBerry brand has dropped down to 12% worldwide, from 19% during the same time last year as people flock to Apple and Google’s Android powered smartphones.
“The lack of insider purchases could portend a takeover, since executives cannot legally buy shares if they are in talks over a transaction,” said Richard J. Moroney, chief investment officer at Horizon Investment Services LLC.
RIM’s CEOs Jim Balsillie and Mike Lazaridis together own 10.5% of the company’s stock. Neither they, nor any of the other board members were available for any comment when asked about the lack of share purchase.
“If they don’t see value in it at these levels, how am I supposed to see value, given all the uncertainty RIM faces?†said Moroney.
About Taimoor HafeezFrom auditing to editing, I now test and analyze the latest gadgets and games instead of the latest financial statements. Both jobs are equally intense and rewarding. In my free time you'll find me raiding in WoW or engineering in TF2.
Comments
0 komentar:
Post a Comment