It has a new phone, new technology, even a new stock ticker symbol. But the blows keep coming for BlackBerry.
The smartphone maker’s stock price tumbled Monday after Goldman Sachs Group Inc. cut its rating on the company, citing an underwhelming debut of the new BlackBerry Z10 mobile phone.
BlackBerry shares were down about 4% in early trading Monday, after falling nearly 8% on Friday. Before the two-day decline, optimism about the company’s new phone had driven its shares up 36% for the year.
The sleek Z10 went on sale last week in the United States, almost two months after it debuted in the United Kingdom and Canada. Goldman has not been impressed with early sales.