* RIM shares drop 6.4 percent to $9.60 on Nasdaq
* Toronto-listed shares fall 6.3 percent to C$10.01
* Investors fear further decline in BlackBerry sales
TORONTO, June 4 (Reuters) - Research In Motion’s share price slid below $10 on Monday on renewed fears of further declines in BlackBerry sales just days after the smartphone maker warned that it expects to report a fiscal first-quarter operating loss.
“Our checks indicate that U.S. BlackBerry sales likely declined further in May, while inventory remained relatively stable,” said PacificCrest analyst James Faucette in a note to clients.
RIM’s shares were down 6.4 percent at $9.60 at 1.30 p.m. (1730 GMT) on the Nasdaq, while its Toronto-listed shares were 6.5 percent lower at C$9.99. The stock has not traded at these levels since late 2003.
The Waterloo, Ontario-based company’s announcement last Tuesday that it had hired bankers to commence a strategic review has so far done little to quell investor fears about Research In Motion’s prospects and the stock has fallen nearly 15 percent in the past week alone.
$1=$1.04 Canadian Reporting By Euan Rocha; Editing by Peter Galloway