RIM (RIMM) Shares Continue Lower as Heins Denies Death Spiral, Barclays Downgrades

July 3, 2012 9:43 AM EDT
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Shares of Research In Motion (Nasdaq: RIMM) are being sold Tuesday morning as Barclays downgraded the stock to Underweight earlier. Investors are also responding to comments from CEO Thorstein Heins following the company's first-quarter results on Thursday afternoon.

In an interview with Canada's CBC Radio, Heins denied any issues with RIM, saying "there's nothing wrong with the company as it exists right now." Heins specifically said RIM is not in a "death spiral."

The comments come as shares of RIM fell more than 19 percent on Friday and are down another 1.5 percent on Tuesday. The stock last traded at $7.38.

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