The stock of BlackBerry-maker Research In Motion sank nearly 8 percent Friday following the launch of its new touchscreen BlackBerry Z10 in the U.S. The debut didn't generate much buzz and some investors seized the opportunity to cash in.
The company's stock has more than doubled since September, fueled by anticipation that redesigned BlackBerrys featuring a new operating system will help turn around the business. Friday's launch also came on the heels of recent one-day spikes. Last week, news of an order for 1 million of the new BlackBerrys caused shares to climb 8 percent. On Wednesday, Morgan Stanley upgraded the stock to "Overweight" from "Underweight," and the stock rose 6 percent.
The touchscreen-only Z10 has been available in a number of markets around the world for several weeks. Management may give a first read on sales when it releases quarterly earnings on March 28.Associated Press