BlackBerry executives sold shares as Reddit-driven rally sta

BlackBerry executives sold shares as Reddit-driven rally started


BlackBerry executives sold shares as Reddit-driven rally started
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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)
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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.

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