BlackBerry shares drop after former CEO Balsillie sells his entire stake
Shares of Blackberry slipped on Thursday, after the company’s former Co-Chief Executive Officer Jim Balsillie disclosed that he had sold his stake in the company.
In a regulatory filing on Thursday, Balsillie said that by the end of last year he had sold his entire stake in the company.
He cleared out all holdings by December 31, 2012, 30 days prior to the launch of BlackBerry 10.
Balsillie owned about 26.8 million shares, or a roughly 5 percent stake in the company, as of December 31, 2011.
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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