1. JuiciPatties's Avatar
    Read on CityNews, via twitter, that Lazaridis' holding company sold 3M+ shares for approximately $27M.

    Not sure what is going on. Perhaps he just needs to trigger a loss for tax purposes, but sad to see a long-time shareholder and founder start to sell. I'm sure there is more to this than I am aware of.
    12-24-13 04:43 PM
  2. JuiciPatties's Avatar
    Sorry, here is the link and the article for those too lazy

    BlackBerry co-founder Mike Lazaridis sells $26 million in shares | CityNews

    Mike Lazaridis has cashed in shares of BlackBerry, making US$26 million in the process, as he lessens his stake in the smartphone company he helped create.

    Documents filed with U.S. regulators on Tuesday show that a numbered company registered in Ontario — and controlled by Lazaridis — has sold 3.5 million shares in BlackBerry since Monday.

    The first sale was made on Monday when 3.17 million shares were sold at an average price of $7.55 on the open market.

    The second transaction came on Christmas Eve Day when the same numbered company sold 333,107 shares at an average price of $7.63.

    In total, the transactions reaped $26.5 million.

    Both sales were made through 1258701 Ontario Ltd., an investment holding company, according to the documents from the U.S. Securities and Exchange Commission.

    In October, the numbered company was part of an effort by BlackBerry co-founders Lazaridis and Doug Fregin to submit a bid for BlackBerry when the Waterloo, Ont.-based firm was hunting for potential buyers.

    Plans to sell the company were eventually scrapped when Fairfax Financial (TSX:FFX), one of BlackBerry’s largest shareholders, came up with a plan to raise a billion dollars in hopes to resuscitate the struggling company instead.

    Major changes were made almost immediately, with the hiring of John Chen as chairman and chief executive officer. Chen previously helped turn around Sybase, a data management company.

    Last week, BlackBerry reported a quarterly loss of US$4.4-billion as sales of its smartphones continued to decline. Chen delivered the clearest plan for the company’s future yet, which stoked investor optimism.

    Shares of BlackBerry have been on the upswing, rising 24 per cent since the financial results were released.

    On Tuesday, the company’s badly beaten stock hit its highest levels since late October, before the plan to sell BlackBerry was sidelined.

    BlackBerry shares closed up 27 cents to $8.25 on the Toronto Stock Exchange.

    A company spokeswoman said BlackBerry had no comment.
    12-24-13 04:45 PM
  3. slickvguy's Avatar
    The guy sold roughly 10% of his holdings. Nothing to get excited about.

    "but sad to see a long-time shareholder and founder start to sell. "

    You have no information to suggest that he is "starting" to sell, i.e. that he will continue to sell. Stop with this nonsense.

    The guy raised $25 million for whatever reason. It's his choice. Someone bought those shares. That is THEIR choice.

    If the news was that ML dumped *ALL* or a majority of his shares, then that would be newsworthy. 10% is just taking something off the table.

    What would be nice to know is WHY he sold those shares? For personal reasons or for business?
    12-25-13 12:42 AM
  4. Peevish's Avatar
    The guy sold roughly 10% of his holdings. Nothing to get excited about.

    "but sad to see a long-time shareholder and founder start to sell. "

    You have no information to suggest that he is "starting" to sell, i.e. that he will continue to sell. Stop with this nonsense.

    The guy raised $25 million for whatever reason. It's his choice. Someone bought those shares. That is THEIR choice.

    If the news was that ML dumped *ALL* or a majority of his shares, then that would be newsworthy. 10% is just taking something off the table.

    What would be nice to know is WHY he sold those shares? For personal reasons or for business?
    I read somewhere else that he sold around 3.5% of the 5.whatever% of the company he owned. That is roughly 70% of the shares he owns. Assuming what I read is accurate.
    jerrych likes this.
    12-25-13 12:48 AM
  5. rim4ever's Avatar
    What you read is inaccurate. He only sold about 3.5 million shares or around 10% of his holdings. He still owns 4.99% stake in the company or roughly 26 million shares.

    BlackBerry Limited (BBRY) SEC Filings - NASDAQ.com
    12-25-13 08:15 AM
  6. tdaye's Avatar
    This news is on the front page of Crackberry....

    http://crackberry.com/blackberry-co-...on-bbry-shares

    Posted via CB10
    12-25-13 08:18 AM
  7. grunt0300's Avatar
    Sorry, here is the link and the article for those too lazy

    BlackBerry co-founder Mike Lazaridis sells $26 million in shares | CityNews
    I hate to say that i told you so, but i did! He's all about the money.
    12-25-13 08:20 AM
  8. notafanboy's Avatar
    What are you talking about? ^^^^^^^^^^

    Mike went from 5.7% to 4.99% as he reduced his holdings since he no longer is trying to take the company private. The haters / shorts are trying real hard to spin a non event into something. To think investors bought all those shares and stoll continued to take the sp higher. The sp will continue heading high as bbry is grossly undervalued.

    Posted via CB10
    12-25-13 10:14 AM

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