BlackBerry’s U.S.-listed stock, which is on track for the highest close since December 2011, blasted 42.7% higher last week, the biggest weekly gain since the week ended Dec. 26, 2003. The stock jumped 43.5%, to $20.15 on Monday, reaching the highest price in 10 years, though the gain later diminished to a bit more than 30%. At $20.15, the stock was up just over 200% year to date, giving the company a market capitalization of about $11 billion.
BlackBerry said today that it was not aware of any “material, undisclosed corporate developments” that might explain Monday’s rapid climb in its stock price.
At the behest of Canada’s Investment Industry Regulatory Organization, the company also said that there had been no “material change” in its business or affairs that had not already been publicly disclosed and which might explain the share price jump.
The Company is not aware of any material, undisclosed corporate developments and has no material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in the market price or trading volume of its common shares.
Security filings on Thursday showed that some senior executives sold shares in BlackBerry last week, with Chief Marketing Officer Mark Wilson selling 78,500 shares and Chief Financial Officer Steve Rai offloading 32,954 shares.
In December, the company posted revenue for its fiscal third quarter, ended Nov. 30, of $218 million, down 18% from a year earlier. The company lost $130 million, or 23 cents a share, in the quarter. The consensus call among Wall Street analysts is that revenue this quarter will be $246.1 million, with profits of 3 cents a share.
