Research In Motion Plunging On Incredibly Heavy Volume

Research In Motion Limited RIMM shares are off $1.77 to $38.66, a loss of 4.4% on 16 million shares, which is nearly eight times the average daily volume. The company has been continuously losing market share to Google GOOG and Apple AAPL, and today a Reuters report showed that market share is continuing to shrink. UBS and Sterne Agee both cut their price targets, with UBS going to $45 from $60, and Sterne Agee cutting from $52 to $44. Both investment banks have Neutral ratings on shares. According to comScore, RIM's market share fell to 25.7% from 30.4% in the previous quarter, while Android jumped to 36.4%, and Apple's iPhone rose to 26%.