BlackBerry Shares Slip After Former CEO Balsillie Sells Stake
Shares of Blackberry slipped on Thursday, after the company's former Co-Chief Executive Officer Jim Balsillie disclosed that he had sold his once-sizable stake in the embattled smartphone maker.
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In a regulatory filing on Thursday, Balsillie said that by the end of last year he had sold his entire stake in the company. Balsillie, who stepped down as CEO a year ago, owned about 26.8 million shares, or a roughly 5 percent stake in the company, as of December 31, 2011.
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Shares of BlackBerry were down 3.4 percent at $13.52 in early trading on the Nasdaq, while its Toronto-listed shares fell 3.5 percent to C$13.51.
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