“The percentage of [BBRY] shares on loan — a proxy for short-selling activity — stands at about 30% of the combined Canadian and New York stock listings. That’s nearly a record high for the BlackBerry maker, data from securities financing tracker Markit show. Short sellers borrow shares in hopes of buying them back cheaper at a later date, aiming to profit from a price decline,” Russolillo reports. “Last Friday’s launch of the newest BlackBerry device underwhelmed investors, prompting a downgrade from Goldman Sachs which weighed on the stock.”
Read more in the full article here.
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