BlackBerry says it doesn’t know what’s behind recent share price surge
WATERLOO, Ont. -- BlackBerry Ltd. says there haven't been any major business changes to account for a trading frenzy that drove its share price higher today.
Toronto-listed shares rose as high as $26.51 apiece by mid-afternoon, up more than 48 per cent from Friday's closing price of $17.86.
Within the past year, the shares have traded for as little as $3.94 each, but have risen 61.5 per cent over the past five days alone.
About 23 million Toronto-listed shares changed hands by 2:30 p.m. eastern, compared with an average day's trading volume of less than 7.7 million.
The Waterloo, Ont.- based software company put out a statement saying there hasn't been any undisclosed or material change in its business that would account for the stock's activity.
The Investment Industry Regulatory Organization of Canada briefly halted the stock this morning after the surge set off the regulator's circuit breaker, which slows down trading to ensure a fair and orderly market.
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