BlackBerry Ltd’s (NASDAQ:BBRY) stocks plunged around 3% in premarket trading on Thursday as it’s co-founder released in a regulatory filing on Tuesday that he cut his combined stake with another co-founder in the smartphone maker to only under five percent, as well as indicated he no longer aims to follow a joint proposal to purchase the firm outright.
Mr. Lazaridis as well as Douglas Fregin in October declared that they owned a total 8% stake of BlackBerry and were considering a joint proposal to purchase the Waterloo, Ontario, firm following it had put itself up for sale in August. A representative of Mr. Lazaridis could not immediately be reached for comment. A BlackBerry spokeswoman refused to comment. The revelation of the cut stake comes after BlackBerry previous week released a $4.4B quarterly loss as its new line of smartphones failed to gain traction in the market.
BlackBerry Ltd (NASDAQ:BBRY) stock hit highest price at $7.80, beginning with a price of $7.50 and increased 3.48% to the close at $7.73 with day range of $7.47 – $7.80. The total market capitalization of the stock is $4.06 billion; total volume held in the session was 19.30 million shares which are higher than its average volume of 19.27 million shares.
On the other hand, Levi & Korsinsky released that a class action court case has been commenced in the USDC for the Northern District of California on behalf of investors who acquired Tesla Motors, Inc. (NASDAQ:TSLA) common stock between May 10, 2013 and November 6, 2013.
An analyst cut its rating on Tesla due to “execution risk” in October. Since this lower grade three Tesla Model S’s have split open into flames. Tesla Motors Inc (NASDAQ:TSLA)’s stock in last trading day held volume of 9.94 million shares as compared to its average volume of 11.87 million shares. Shares after opening at $150.00 attained maximum price of $54.97 and then ended up on $151.41 by increasing 5.48%.
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