Tech stocks: BlackBerry dips on down rating

Shares of struggling smartphone maker BlackBerry slid 1.5% in morning trading Wednesday after receiving a "Sell" rating from an analyst at Citi.

The Associated Press reports Citi's Ehud Gelblum handed down the rating after disputing the company's decision to press forward intact instead of boosting its value by breaking itself apart.

Last summer, BlackBerry announced it was exploring strategic alternatives for its business, including a potential sale. However, in November, the company revealed it was taking itself off the market, instead accepting a $1 billion investment from Fairfax Financial Holdings.

The company has also shaken up its management ranks, replacing CEO Thorsten Heins with former Sybase chief John Chen, and both its chief financial officer and chief marketing officer departing.

Follow Brett Molina on Twitter: @bam923.