RIM Shares Tumble Amid Short Call

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TORONTO (Reuters) – Research In Motion Ltd. shares closed down 6 percent on Monday after an investment newsletter editor recommended investors sell short the maker of the popular BlackBerry wireless device.

Analysts said the recommendation, along with news of a new product offering from rival Good Technology, pushed RIM stock through key technical support levels.

Shares of RIM, which helped popularize wireless e-mailing with its thumb-operated BlackBerry, closed down $4.18 at $66.12 on Nasdaq on volume of 23.9 million. At one point it was as low as $64.01, a 9 percent decline.

The stock is down about 20 percent on Nasdaq this year.

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