You can pick up a share in the Canadian smartphone maker for less than $13 which is a nasty joke. Part of the problem is that RIM's two headed monster of a leadership cannot seem to make a step without cocking it up. Last week, RIM said that it was delaying the release of its make-or-break new smartphones until late 2012.
As far as the share market is concerned RIM has a market capitalisation of less than $7 billion. RIM's current assets, which include short-term investments and discounted inventory, are $7.2 billion.
In long-term investments, such as property and intangible assets such as patents, RIM is worth an additional $7 billion.
Analysts think that RIM cannot fall much lower before it all gets silly. Susquehanna Financial analyst Jeff Fidacaro told Reuters that $12 is a possible floor, based mostly on a valuation of RIM's patents and its services business.
But RIM can't find many buyers for its PlayBook tablet computer. In fact it seems to be hoping that a software update to the thing in February might spark some interest.
There is some hope and no hope in this. Some tablets are fast looking like a fashion toy and RIM's market was all business related. It also suffered from a knock in confidence due to a massive network outage, falling US market share and a string of botched and delayed product launches.
At the beginning of the year, in February, its share price was more than $70. Things have not been this bad for RIM in years.
Wall Street does not seem particularly interested in the outfit posting solid quarterly sales. It made $1.8 billion in the third quarter. Many are starting to making comparisons to Palm, which it is a long way from becoming yet.