Billionaire Dan Loeb, who runs the hedge fund Third Point, LLC made an interesting buy recently. His purchase of 2% of BlackBerry Stock raised some eyebrows as his hedge fund isn't considered an "activist" fund (one that tries to force management and board changes), he has in the past moved to cause change in some companies he has invested in.
Loeb, along with his buy of BlackBerry stock also purchased 1% of T-Mobile stock and 100,000 shares of Apple. But, what does this mean in the whole realm of BlackBerry, LTD? Does Loeb intend to try and flex some muscle and have a say in the corporate manager or "C" level structure? Or does he see BlackBerry as a good investment as the stock has gone up recently in the past six months from a low of near $5 to a pre-market price of $9.34 (as of this writing).
Tell us what you think of this purchase and what it means for BlackBerry in the comments below.
Source: Financial Post