Shares at BlackBerry, formerly called Research In Motion, fell by several percentage points today after investment banking firm Goldman Sachs cut the company's rating.

Shares at BlackBerry, formerly called Research In Motion, fell by several percentage points today after investment banking firm Goldman Sachs cut the company's rating.

 
BlackBerry launched its latest device, the Z10, in the US on Friday, considerably behind the UK launch date of 31 January. Despite months of preparation and anticipation, the BlackBerry 10-enabled device failed to generate much enthusiasm among consumers.
 
Goldman Sachs checked more than 20 stores, including AT&T, Best Buy, and RadioShack, since the 22 March launch, and found what it described as “a surprising lack of marketing support” and “poor positioning of the product.”
 
 
The result is a downgrade of BlackBerry stock from “buy” to “neutral,” and a subsequent fall in investor confidence in the ailing Canadian smartphone maker.
 
At the time of writing BlackBerry shares are down $0.57, or 3.82 percent, to $14.34.
 
Source: Reuters