Who Balsilie and Lazaridis? They are the largest shareholder of RIM as well as served as co-chief executive officer of the company. Well, this year, they fared less fortunate because the stock price of the BlackBerry has been trimmed down to half of its value.
BlackBerry globally sluggish sales due to fierce competition in the smartphone business casualties. Two founder of Research In Motion (RIM), Jim Balsillie and Mike Lazaridis, must be willing to remove their clothing billionaire status this year. Therefore, their property as part eroded the stock price drop that the BlackBerry manufacturer.
Bloomberg data, the top 5 percent of shares owned by each executive of RIM trimmed to 640 million U.S. dollars on Friday (16/09/2011), from the previous 1.9 billion U.S. dollars in February.
One cause of the decline in RIM's stock price was investor disappointment over RIM's performance for three consecutive quarters. The problem is, the performance of RIM depressed and bitter rivalry with the iPad and iPhone of Apple Inc. .
Simply an additional, RIM's stock price plunged to 23.93 dollars on the Nasdaq Stock Market on Friday's close at 16.00 pm New York time. As such, RIM's share price has plummeted 66 percent from its highest position in 2011 and 84 percent from record prices in June 2008.
"Both executives are slow moving. They do not know the information about new products. They also failed to achieve its performance targets. In addition, there is nothing they do to convince Wall Street that it will launch the strategy in the face of Apple and Google Android products," explained Matthew Thornton, an analyst at Avian Securities LLC in Boston.
