The stock closed at $9.11 on the Nasdaq. The 7.6 percent fall is its steepest since late May, when it said it expected to report an operating loss for its fiscal first quarter and said it had hired investment bankers as part of a strategic review.
"In a weak market, people tend to sell their weakest stock first," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. He said RIM's drop on Monday likely reflected a combination of the analyst report, nervousness ahead of RIM's financial results on Thursday, and a broader decline in equity markets.
(Reporting by Alastair Sharp; Editing by Frank McGurty)
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