BlackBerry says oblivious to the reason for the share price rise

(Reuters) – Canadian BlackBerry Ltd said it was unaware of any reason for a hike in its share price on Monday that took earnings over 150% since early January.

The security software vendor’s US-listed stock rose 17.7% to $ 16.53, set for its eighth consecutive session of earnings and their largest monthly jump since going public in 1997.

Respond to a request from BlackBerry has stated that it is not aware of any material and undisclosed corporate developments that could have caused its share and trading volume to rise.

The latest leap forward in the company’s stock comes after Blackberry, the once ubiquitous name in the smartphone industry, resolved a patent rights dispute with Facebook Inc.

Security documents on Thursday showed that senior executives sold BlackBerry stock last week, with Chief Marketing Officer Mark Wilson selling 78,500 shares and Chief Financial Officer Steve Rai downloading 32,954 shares.

Munsif Vengattil’s reportage in Bengaluru; Editing by Aditya Soni