Posted by: Nathan Simon
So BlackBerry didn’t sell, and it wasn’t because Fairfax couldn’t raise enough money, it just didn’t make financial sense. Thorsten is being ousted as CEO, and BlackBerry stock is at a dismal 6.49$ per share. I am not going to try and explain the situation when Chris over at Crackberry does a fine job himself.
Next up: Why did the stock collapse yesterday? Because the market’s initial reaction to the news was the typical, “Oh, Fairfax failed to raise the money, nobody wants to buy this company”. We’ll see where the stock price shakes out in the next month. I’ve lost count of how many times I’ve seen stock tank on news just to recover as people’s understanding of the news improved, or vice versa, when stock prices soar only to fall back down after the news is truly digested. source article
Just know that BlackBerry handsets aren’t done, BBM is going to be around for a while, and BlackBerry stock should rise once the tides have settled.