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Radioshack Corporation (NYSE: RSH) was already doing poorly after its preannounced earnings report on Monday evening.  The reaction had shares down 19.75% at $8.21 last night with more than 1.5 million shares traded in the after-hours session. Here is the full earnings recap and Sprint Nextel Corp. (NYSE: S) was given much of the blame.

Tuesday’s follow-on trading is looking as though things are going from bad, worse, to even far worse.  The pre-market trading session on Tuesday already has shares down over 24% at $7.70 and that looks and feels like the depths of the 2009 recession market panic trading are back for this troubled electronics retailer.

Keep in mind that this is a new 52-week low and then some.  The prior 52-week trading range was $9.15 to $16.70.  Sadly enough, Radioshack is now set to have a market capitalization rate of under $1 billion.  The market value at the close of Monday was $1.02 billion.  If the 24.5% remains, then Radioshack’s new market value is going to be $770 million.

Don’t get fooled by the dividend here, particularly since it pays an annual payout rather than quarterly and with that payment made out in November of each year.  Yahoo! Finance shows its yield at 4.9% but the new yield will jump up to over 6% if it remains.  The bet has to be against that since the 2011 went up to $0.50 from $0.25.