Former Co-CEO Of RIM Cashes Out Stock
Jim Balsillie, former co-CEO and co-founder of RIM (Research In Motion) has liquidated what stake he had in the company. This occurred on December 31, 2012. Balsillie’s stock was worth $385 million last March when he resigned from the company’s board, which was shortly after he was removed from his position as co-CEO.
BlackBerry’s stock is down 4.79% since the news of Balsillie selling off his stake. This stock drop can also be attributed Home Depot stating that they are dropping the BlackBerry from their organization.
There is no telling if Balsillie’s actions were a vote of no confidence or simply moving on in life without BlackBerry.
The BlackBerry Z10 was already a recorder seller with Rogers, so things are looking good for company at the moment. We won’t have a clear picture on BlackBerry sales for a few months.