Then Goldman Sachs reduced its investment rating on BlackBerry from “buy” to “neutral”, citing “disappointing” sales in the US and saying the Z10 had only a 20 per cent chance of success.
“While we thought the international launch was solid, the US launch is critical for BlackBerry’s ultimate success,” Goldman analyst Simona Jankowski wrote in a research note.
In Monday’s trading, BlackBerry shares fell a further 4.6 per cent to $14.23.
Citigroup also downgraded BlackBerry after finding that less than 5 per cent of shops in the US had sold out of the Z10, despite each only stocking around a dozen of the phones.
Turns out the sales are so minimal they can't move 10 or more in a store. OUCH.