BlackBerry (NYSE:BB; TSE:BB) rally pauses as note conversion faces test
BlackBerry Limited shares dropped sharply Thursday, but the daily move wasn’t the whole story. The recent rally has brought the company’s convertible notes into focus as investors rethink the valuation for its QNX embedded systems business. BlackBerry’s U.S. shares were at $11.68 as of 11:54 a.m. EDT, off $1.13 from the previous close. The stock opened at $12.75 and touched $13.00 earlier in the session. Trading volume reached 28.4 million shares. That’s under the 43.7 million average from Google Finance, but still kept BlackBerry active ahead of the U.S. holiday break.