5 Stocks With New CEOs to Stay Away From
Research In Motion
BlackBerry maker Research In Motion (RIMM) was for many years in direct competition with Palm (which as I mentioned was eventually purchased by HP) to capture market share in the enterprise mobile device/telecommunications business. RIMM handily won out, and for nearly a decade, it was the dominant player in the mobile enterprise space.
Then along came Apple and the iPhone. RIMM was slow to react as the consumer mobile smartphone market took off, preferring to stick to its core competency in the enterprise business. When Research In Motion did wake up to the new realities of the technology market, it produced smartphones with small screens that were just not as appealing as the iPhone.
Apple one-upped RIMM and Hewlett-Packard with its iPad. RIMM's response was the Playbook, which was, to say the least, a major flop, and now enterprise users are fleeing RIMM to Apple's platform. >>6 Tech Stocks That Rate Better Than Apple Shares of Research In Motion have been in rapid decline this past year. A new CEO, Thorsten Heins, is now at the helm. We recently learned that former CEO Jim Balsille had been at loggerheads with the board as he sought to open up RIMM's proprietary network to competitive products, thus maintaining control over the service aspect of the business. That might have been a smart move. Research In Motion is clearly without a strategy or direction for the future. Don't let rumors of a takeover suck you into this stock. It is dead money.Select the service that is right for you!
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