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BlackBerry Comeback Hampered by Vanishing Cash: Corporate Canada
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Investors are no longer wondering if BlackBerry Ltd. will run out of cash. For some, it’s now a question of when.
The struggling smartphone maker embarked on a plan to raise $1 billion in convertible debt yesterday after the collapse of a $4.7 billion buyout deal. While the effort gives a cash infusion to the company, the move raised speculation by analysts and investors that its money is disappearing quickly. BlackBerry shares plunged 16 percent yesterday, bringing their year-to-date decline to 45 percent.