Following the departure of Mike Lazaridis and Jim Balsillie - the former co-chief executives of Research In Motion, the market reacted in an adverse manner, causing the company's shares to decline even further. As of Tuesday, the BlackBerry maker had to withstand another 3 percent fall in its shares.
In fact, ever since Lazaridis and Balsillie bowed to investors pressure and announced their decision to quit, the company has suffered a massive loss of near about $1 billion in market value.
Shares of the company closed at $17.24 Friday on the Toronto Stock Exchange. Monday proved to be a pretty disappointing day as well for investors as the shares underwent a steady 10 percent decline. And if that was not bad enough, Tuesday witnessed another three percent decline and dragging the net share value to $15.20.
"We continue to believe this tactic could prove mutually beneficial to RIM and other handset ventures. We do believe it could represent a significant strategic and financial advantage for the company," Scotiabank analyst Gus Papageorgiou explained, as reported by CTV.ca.