Shares of Research in Motion are taking a pounding on Friday as investors react to the company’s woeful earnings report and forecast, which was released after the markets closed on Thursday.
As of 1:30 p.m. ET, shares of RIM were down more than 20% to less than $28 apiece. The decline represents more than $3.5 billion in market value and sees the company trading at a fraction of the $140+ high it reached in 2008.