Thursday s analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
BlackBerry Revival Rewards Watsa’s Patience With Huge Gain
Bloomberg 1/27/2021 Michael Bellusci
(Bloomberg) Day traders have pushed BlackBerry Ltd.’s share price to levels not seen in more than nine years. They’ve also given a jolt to a Canadian investment company that got crushed in last spring’s market crash.
BlackBerry soared as much as 52% Wednesday in New York after a brief trading halt. The stock reached its highest level since 2011, and is up about 300% this year. That is repaying the patience of Prem Watsa and his Fairfax Financial Holdings Ltd., which owns 8.3% of the software firm’s shares, according to data compiled by Bloomberg.
Wednesday s analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
BlackBerry revival rewards Watsa s faith with US$1.2B gain
Michael Bellusci, Bloomberg News VIDEO SIGN OUT
Day traders have pushed BlackBerry Ltd.âs share price to levels not seen in more than nine years. Theyâve also given a jolt to a Canadian investment company that got crushed in last springâs market crash.
BlackBerry soared as much as 52 per cent Wednesday in New York after a brief trading halt. The stock reached its highest level since 2011, and is up about 300 per cent this year. That is repaying the patience of Prem Watsa and his Fairfax Financial Holdings Ltd., which owns 8.3 per cent of the software firmâs shares, according to data compiled by Bloomberg.
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Inside the Market’s roundup of some of today’s key analyst actions
The outlook for commodities has “significantly improved” in recent months, according to Scotia Capital analyst Orest Wowkodaw, who thinks the “risk-reward proposition for the equities remains attractive despite the impressive performance post the COVID-19 pandemic collapse in early 2020.”
“Although most of the world continues to battle the COVID-19 pandemic, the recent development of several vaccines and clarity on the governing U.S. administration has significantly improved the outlook (and sentiment) for commodities,” he said. “There is little doubt that the remarkable Chinese economic recovery beginning in Q2/20 rescued most com