Those of us who believe in BlackBerry have suspected (known) that something is up with BlackBerry stock for a long time. At UTB blogs we have kept careful watch on the persistent rumors and lies surrounding the company in the media, especially in the tech and financial media. Ever since BlackBerry has been written off as being on the way to it’s grave, BBRY has been the favorite play toy it seems of the investment community.
As shown by the graph above, snapped a few weeks ago when a rumor was perpetuated that Samsung may be purchasing BlackBerry for as much as $7.5 billion, there are investors waiting in the wings for news of it’s sell off.
These drooling vultures acted quickly on the rumor pushing the stock up nearly 30% within an hour.
When Samsung and BlackBerry quickly denied the rumor the investors withdrew and as soon as the next morning things were back to normal and the stock price dropped back down.
Well it appears now that this has also aroused the suspicions of securities regulators in both the U.S. and Canada, as well it should. The Securities and Exchange Commission and the Ontario Securities Commission are in the early stages of examining trading activity around the time of a report by Reuters in January.
According to the Wall Street Journal today, Investigators are looking at whether someone deliberately fed information to reporters at the news service for the purpose of profiting on the resulting stock increase.
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