Analyst: 'In our view, the risk of total value destruction over the next few years is possible as at this point we cannot see the light at the end of the tunnel.'
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Research in Motion (IW 1000/198) shares plunged Friday a day after the BlackBerry maker's bleak earnings report and the delay in its new smartphone platform raised fresh fears about its survival.
RIM shares tumbled 19% to close at $7.39, their lowest level since 2003, and down more than 90% from their 2008 highs.
Analysts said the news from RIM was deeply disappointing -- not only did the Canadian firm report a widening loss of $518 million, but it also said it would cut 5,000 jobs and delay its important BlackBerry 10 platform until early 2013.
The BB10 had been RIM's effort -- a last-ditch bid, according to some analysts -- to regain traction after losing ground to Apple and smartphone makers using the Google Android platform.
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