November 18, 2013 | In: Technology

BlackBerry (NASDAQ:BBRY) Has Reached New Lows

BBRY (previously RIMM) is currently trading at $6.25, a new low, which is down 46.50% from the $11.50 back in January 2nd. One would think after changing the stock’s symbol, CEO, etc… something positive might happen to the stock.

Well, apparently, something positive happened back in January, when the stock flirted with the $18 level (that’s when all the suckers started buying), and then it started a gradual decline, until July 1st, when the company released horrible results and guidance, where the stock slashed nearly $5 of its value in just one day.

You see, the problem with BBRY is not with its jinxed stock, or its inexperienced, ego-centric CEOs (past, present, and future) who think that by slashing jobs they can save the company. The problem with BBRY (for some reason, I keep thinking of Burberry when I type in the stock’s name) is that all their products, old and new, are still based on an antiquated, old OS that nobody wants to develop apps for and everyone thinks it’s complicated.

The other problem is that the change came in too little, too late (well, even if it was big, and it wasn’t, it was just too late). BlackBerry has already lost the majority of its heavy weight clients back in 2010-2011. At that time, they could have leveraged those clients to initiate a change, a real one. But alas, that ship has sailed.

To conclude, let me ask you this question, would you buy a BlackBerry phone at the moment if you needed a new phone? And if yes, what would be the reasons?

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