BUSINESS

RIM Share Price: Stock Dips Below $10 For First Time In Almost A Decade

06/04/2012 03:38 EDT | Updated 08/04/2012 05:12 EDT
AP

WATERLOO, Ont. -- Research In Motion Ltd. (TSX:RIM) stock sunk below $10 on Monday for the first time since 2003.

Shares in the embattled BlackBerry maker slid as low as $9.97 in afternoon trading on the Toronto Stock Exchange.

That was the lowest the shares have traded since November 2003.

The stock ended the trading day at $10.03, down 65 cents or 6.09 per cent.

RIM shares have taken a beating since announcing last week after the Waterloo, Ont.-based company has hired two outside firms to advise on its troubled business and financial performance.

The company also projected an operating loss in the current quarter and warned it will cut staff throughout the year.

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