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BlackBerry shares slip after former CEO Balsillie sells stake
Research In Motion (RIM) Co-Chief Executive Jim Balsillie smiles as he poses with a PlayBook tablet computer (L) and a Blackberry Torch during an interview at the G20 CEO Summit in Seoul November 10, 2010.
Credit: Reuters/Aly Song
TORONTO |
TORONTO (Reuters) - 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.
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.
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.
(Reporting by Euan Rocha; Editing by Gerald E. McCormick)
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