A report surfaced today in which Canaccord Genuity analyst T. Michael Walkley slashed his estimates for the current quarter to 300,000 units sold. His firm had originally predicted 1.75 million units to be sold but after checking with retailers he found limited supply and demand which forced him to re do his numbers.
What is strange to me is the timing and the fact of how erroneous that statement is. This piece of “news” actually has affected the stock negatively. According to our checks BlackBerry has sold out in many countries including the United Emirates. Pre-orders in Saudi Arabia are extremely high and most of the United Kingdom was sold out on day 1. Canada has seen a large volume of sales and some people are still on a wait list for Rogers. Also keep in mind the device is constantly being introduced to more markets.
It’s sad to see how easy is for people to short the stock and make a quick buck. To make things worse, news outlets are reporting on this information with out any checks of their own.