BlackBerry executives sold shares as Reddit-driven rally started
BlackBerry and other heavily shorted stocks have soared in the past few days as traders organizing on social media platforms such as Reddit took on the hedge funds making bets against them. The stock sales represent one of the first examples of company executives cashing out on the frenzy.Reuters | Jan 30, 2021, 04:03PM IST
Three BlackBerry executives, including the chief financial officer, sold $1.7 million of the telecoms technology firm s stock in the early days of this month s meteoric share price rise, filings with securities regulators show.
BlackBerry and other heavily shorted stocks have soared in the past few days as traders organizing on social media platforms such as Reddit took on the hedge funds making bets against them. The stock sales represent one of the first examples of company executives cashing out on the frenzy.
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(Reuters) - Three BlackBerry executives, including the chief financial officer, sold $1.7 million of the telecoms technology firm’s stock in the early days of this month’s meteoric share price rise, filings with securities regulators show.
FILE PHOTO: The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo
BlackBerry and other heavily shorted stocks have soared in the past few days as traders organizing on social media platforms such as Reddit took on the hedge funds making bets against them. The stock sales represent one of the first examples of company executives cashing out on the frenzy.
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BlackBerry executives sold shares as Reddit-driven rally started
FILE PHOTO: The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo
29 Jan 2021 09:45PM (Updated:
29 Jan 2021 09:53PM) Share this content
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REUTERS: Three BlackBerry executives, including the chief financial officer, sold US$1.7 million of the telecoms technology firm s stock in the early days of this month s meteoric share price rise, filings with securities regulators show.
BlackBerry and other heavily shorted stocks have soared in the past few days as traders organising on social media platforms such as Reddit took on the hedge funds making bets against them. The stock sales represent one of the first examples of company executives cashing out on the frenzy.
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,