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Point72 Purchases 11.2 Million BlackBerry Shares

By May 15, 2014BlackBerry
BerryFlow BlackBerry Spark

Just yesterday we brought you the news that a 108 year old investor had purchased 200,000 BlackBerry shares but today another firm purchased 11.2 million shares in BlackBerry!

Point72 Asset Management, formerly SAC Capital, are the firm that today purchased a significant amount of BlackBerry shares – 11.2 million shares to be precise, which is a hefty amount of shares for anyone to buying but the reason why investors are continuing to invest in BlackBerry is because they are about to bounce back into the market with a complete turnaround and with shares costing as little as $7, investors could make a lot of money out of it in the long term.

What are your thoughts on yet another large investment firm buying shares in BlackBerry?

Via Nasdaq

 

Author Toby Clench

Toby is an Editor for Berryflow; he is a frontline writer who handles content creation, article revisions and develops pieces to cover a range of topics, including product reviews and applications, to create compelling content

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  • Chuck

    Were they covering a short position or actually buying, I wonder.

  • xBURK

    Mr. Chen’s plans bring confidence among investors. I would bet any money that we are going to see many moves like this soon.