Garmin's Big Troubles Just Get Bigger

Garmin (GRMN Quote) shares have been pointing in only one direction as the economic impact on the consumer and increased competition have hurt the personal navigation device maker.

Those issues, combined with the long-delayed introduction of the company's Nuvifone handset device, should continue to pressure shares over the next few quarters, analysts say.

The Cayman Islands-based digital-navigation gadget maker was a favorite among traders in 2007 when its stock surged 80%, but investors have seen a 75% drop in Garmin's stock this year to $24.35 a share, a new 52-week low. The rapid decline comes as economic conditions have worsened worldwide because of the credit crunch in financial markets. ...