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BlackBerry shares tumble

Reuters | 2013-02-15 02:25:30.0

Shares of BlackBerry slipped yesterday after its former co-CEO, Jim Balsillie, disclosed that he had sold his once-sizable stake in the embattled smartphone maker.

In a regulatory filling yesterday, Balsillie said that by the end of last year he had sold his entire stake in the company. Balsillie, who resigned a year ago, owned about 26.8million shares, or a 5% stake in the company, as of December 31 2011. BlackBerry shares were down 3.4% at $13.52 in early trading.

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