Large BlackBerry (BBRY) Hoder Splits Days After BB10; Will Investors Follow Suit?
Tweet Send to a FriendShould investors follow suit?
According to an amended 13G filed with the U.S. SEC Thursday morning, showing Balsillie held zero shares in the company. That's down from a 26,840,490 share passive stake he;d in the company, worth about $376 million as of Wednesday close at $13.99.
Balsillie and co-CEO Mike Lazaridis stepped down from the roles early in 2012, after seeing BlackBerry lose market share and key smartphone contracts to the likes of Apple (Nasdaq: AAPL) iOS and Google (Nasdaq: GOOG) Android devices. Both saw BlackBerry's share price tumble from above $140 at the company's peak, down to about $6.22 last year.
BlackBerry investors got renewed optimism on the upcoming debut of BlackBerry 10, as well as some errs with device shipments and certain apps from Apple. Since launching a few weeks back, analysts have been largely mixed on sales numbers.
Investors aren't selling today, hoping to ride out the storm and let BB10 get a few quarters under its belt. With gobs of potential upside in store on even minor successes, it seems like the smart thing to do. BlackBerry shares are up 4.4 percent Thursday.
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BlackBerry Woes???
The moment that many smartphone users wake up and stop being lemmings; following the first new gadget that comes out, and truly buy what they need, the question about BlackBerry's future will subside. What BlackBerry needs to do is stay true to its base. It is BlackBerry that started the whole smartphone genre. Many of the new smartphones still try to copy the QWERTY style keyboard that BlackBerry made famous. Imitation is the most sincerest form of flattery. Riddle me this, if BlackBerry is darned bad why do companies continue to bite style?
I'll carry my BlackBerry until it stops working and then I'll get another. I carry the Bold Touch -- I've never had a problem. Long live BBRY!
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Misleading
Dean on Feb 15, 2013 12:54 AMMark as Spam | Reply to this comment
your article in my opinion is misleading - my take on it is he sold his shares at a big loss sometime last year betting that BB10 wouldnt make it to market - and he was wrong. He lost a lot of money on his shares and was replaced on the board with industry savy directors. The Z10 is an amazing phone and the sales are blazing.