BB Stock Price Increases Over 9% Pre-Market: Why It Happened
• The stock price of BlackBerry Ltd (NYSE: BB) increased by over 9% pre-market as of 6:35 AM ET today. This is why it happened.
The stock price of BlackBerry Ltd (NYSE: BB) increased by over 9% pre-market as of 6:35 AM ET today. This is a continuation of a surge in BlackBerry’s stock price over the last few weeks.
Since January 13, the stock price of BlackBerry increased by over 88%. This is one of the largest rallies for the company since February 2000.
There have been a few triggers as to why the stock price has been going up. This includes a partnership being announced with Amazon’s AWS to accelerate automotive innovation through a new intelligent vehicle data platform. Blackberry also signed a settlement with Facebook regarding a global patent fight. Plus BlackBerry also reportedly sold 90 patents to China-based Huawei.
At least 2 BlackBerry executives sold shares according to SEC filings, according to Bloomberg. BlackBerry CMO Mark Wilson sold over $990,000 of BlackBerry stock on January 20. And BlackBerry CFO Steve Rai sold about $430,000 of stock on January 20 as well.
“The executives traded during an open trading window as permitted under company policy, and all of our executives continue to have strong equity-based incentives through our long-term equity program,” said a BlackBerry spokesperson in a statement.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
