BlackBerry says unaware of reason for stock price surge
01/25/2021 19:07
(Reuters) - Canada s BlackBerry Ltd said it was unaware of any reasons for a surge in its share price on Monday that lifted gains to more than 150% since the start of January.
U.S.-listed shares of the security software supplier were up 17.7% at $16.53, set for an eighth consecutive session of gains and their biggest monthly jump since going public in 1997.
Responding to a request from securities regulator the Investment Industry Regulatory Organization of Canada, BlackBerry said it was not aware of any material, undisclosed corporate developments that could have driven the surge in its stock and trading volume.
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BlackBerry insiders unload shares amid biggest rally in 21 years
Ryan Vlastelica, Bloomberg News VIDEO SIGN OUT
Corporate insiders unloaded shares of BlackBerry Ltd. amid a frenzy of buying that turned it one of the hottest stocks of the new year.
BlackBerry shares rallied about 5 per cent on Friday to extend a seven-day advance to 80 per cent, its biggest such percentage increase since February 2000. Thus far this year, the stock has more than doubled, making it the top performer in the S&P/Toronto Stock Exchange Composite Index. The shares closed at their highest price since March 2018 on Thursday.
At least two BlackBerry executives sold shares amid the advance, according to filings with the U.S. Securities & Exchange Commission. Chief Marketing Officer Mark Wilson on Jan. 20 sold more than US$990,000 of BlackBerry stock, reducing his directly owned shares by nearly 60 per cent. Chief Financial Officer Steve Rai also sold nearly US$430,000 of the stock on the same day,