Research In Motion Ltd (RIMM) breaks to new lows on increased volume, currently printing the tape at $66.23. Weakness being attributed to a Dow Jones Newswire report that says the company’s Chief Marketing Officer Keith Pardy is stepping down for personal reasons.
According to the report, Mr. Pardy will continue to help the maker of Blackberry smartphones over a six-month transition period.
RIMM lost $2.01, or 2.94%, to $66.44 at 2:59 E.T. in Nasdaq composite trading. Volume has exploded with more than 11.3 million RIM shares already trading hands compared to a daily average volume of 10.6 million. Day’s range: $66.00 – $67.94.