Research In Motion (-69% since Oct. 7, 2011)
Just a few years ago, Research In Motion (NASDAQ:RIMM) was the king of the smartphone world. It has since lost its throne, and now it’s in danger of losing its head.
Unlike Netflix, RIMM’s losses haven’t come on a couple big announcements, but rather just a steady stream as investors lose confidence in the struggling tech stock.
RIMM is planning to spend $100 million for its app developer program, but it’s too little — and definitely too late. Top developers aren’t going to want to create apps for a dying platform.
The company’s last hope is its patent portfolio. As seen with companies like AOL (NYSE:AOL) and Motorola, there certainly is value in intellectual property for mobile technologies. But RIMM needs to act fast before its $2 billion cash hoard evaporates.