Henry Blodget has a rant about Research In Motion Ltd. on his Business Insider site, which may or may not be a credible criticism of the BlackBerry maker. But this seems pretty certain: The rant knocked the wind out RIM's share price on Tuesday afternoon.
According to Mr. Blodget, who quotes an unnamed "technology writer": "We were just ranting about how Apple temporarily ruined our iPhone email by automatically switching to the heinous Google 'Conversation' format...and then we heard that BlackBerry has done this same thing!"
It's easy to turn skeptical at the sight of that exclamation mark (not to mention an "OMG" in the headline), but a quick look at the day's stock chart showed that at least some investors out there know what Mr. Blodget -- a former technology analyst during the dot-com heyday -- is talking about.
In New York, the shares were trading at a steady $51.50 (U.S.) until about 3 p.m. ET. Then, the share prices fell sharply by another $1.50, bringing the dip for the day to a nasty 6.4 per cent.
It has been a rough ride for RIM since investors began to fret over the new competition from Apple. The shares are still down more than 66 per cent from their 2008 high, and are currently trading at their lowest levels since April, 2009.
UPDATE: Rumours circulated on Tuesday afternoon that Verizon Communications INc. will be offering the iPhone early next year.Report Typo/Error