BlackBerry (BBRY) Shares Sell Off from Earlier Highs

BlackBerry (BBRY) shares are selling off from earlier intraday highs following a clarification from BGR’s Brad Reed noting that Xiaomi’s president and co-founder Bin Lin did not actually say in a post on Weibo that his company ‘will acquire BlackBerry’. Instead, it seems that the latest round of Xiaomi for BBRY chatter was started by a recent quote from another Weibo user who stated the BlackBerry-Xiaomi deal as fact.

BlackBerry Limited is currently printing a normal average trading volume with the issue trading nearly 6 million shares, compared to the average volume of 9 million. The stock began exchanging hands this morning at $9.68 to currently trade 0.21% higher from the prior days close of $9.71. On an intraday basis it has gotten as low as $9.63 and as high as $9.94.

On valuation measures, BlackBerry’s current year and next year EPS growth estimates stand at 22.20% and 0.00% compared to the industry growth rates of 13.30% and 5.90%, respectively. Ticker has a t-12 price/sales ratio of 1.54. EPS for the same period registers at ($0.58).

BBRY shares have declined 4.43% in the last 4 weeks and 10.42% in the past three months. Over the past 5 trading sessions the stock has lost nearly 4%. Shares of the $5.14 billion billion market cap company have a median Street price target of $9.14 with a high target of $14.00. Ticker is up 29.81% year-over-year.

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