TORONTO (Reuters) - Research In Motion's share price slid below $10 on Monday on renewed fears of further declines in BlackBerry sales just days after the smartphone maker warned that it expects to report a fiscal first-quarter operating loss.
"Our checks indicate that U.S. BlackBerry sales likely declined further in May, while inventory remained relatively stable," said PacificCrest analyst James Faucette in a note to clients.
RIM's shares were down 6.4 percent at $9.60 at 1.30 p.m. (1730 GMT) on the Nasdaq, while its Toronto-listed shares were 6.5 percent lower at C$9.99. The stock has not traded at these levels since late 2003.
The Waterloo, Ontario-based company's announcement last Tuesday that it had hired bankers to commence a strategic review has so far done little to quell INVESTOR (INVEB.ES)fears about Research In Motion's prospects and the stock has fallen nearly 15 percent in the past week alone.
(Reporting By Euan Rocha; Editing by Peter Galloway)
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