BlackBerry Doesn’t Know the Reason Behind its Stock Price Surge

Manufacturer of the famous BlackBerry smartphone BlackBerry Ltd (BB) says that it’s not aware of the reason why the price of its stock has been speeding up lately. Since the month started, the stock has attracted gains of over 150%.

The Canada based company is also involved in providing intelligent security software and services to government and enterprises across the world.

On January 25, BlackBerry’s stock closed at $16.53 denoting a 17.7% gains that day. This recorded the seventh consecutive day the stock had closed sessions on the gaining side.

Following a request from securities regulator the Investment Industry Regulatory Organization of Canada, BlackBerry responded by saying it isn’t aware of any material or any development in the company that could have triggered the surge in its stock price and also increased the trading volume.

This latest surge comes at a time after Blackberry settled patent royalties claims with social network Facebook Inc. (FB) which took place on January 15.

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