BlackBerry Co-Founder Lazaridis Losing Faith In Company, Sells 3.5 Million Shares

BlackBerry co-founder Lazaridis may have finally revealed his true feelings regarding BlackBerry's future. Following the earnings report for Q3 which saw BlackBerry post a massive $4.4 billion in losses, CEO John Chen took advantage of his inspirational speech classes and convinced the public that BlackBerry has hit rock bottom, and that the only way ahead is up. Stocks rose sharply by 25%, and what did co-founder Lazaridis do? Sell 3.5 million shares between Monday and Tuesday, reducing his stake in the company from 5.7% to 5%.

The company's future is really looking bleak at the moment. Sales of BB 10 devices are dismal, and releasing new flagships isn't really helping. To tackle that, BlackBerry has partnered up with Foxconn to produce cheap BB 10 devices in 2014. Maybe that will help the company get back some of its former glory.

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Source The Associated Press
Channel Business
Topics BlackBerry, BlackBerry 10, Shares, Earnings Report, BB 10, Lazaridis
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