BlackBerry Revival Rewards Watsa’s Patience With Huge Gain

Value investor who bet on Chen sees retail traders jump onside
Fairfax has $1.2 billion gain and could hedge it, Scotia says

Day traders have pushed BlackBerry Ltd.’s share price to levels not seen in more than nine years. The stock jumped 4.9% Tuesday to $18.92 in New York, its eighth consecutive rise, bringing its gain this year to 185%. — Day traders have pushed BlackBerry Ltd.’s share price to levels not seen in more than nine years. The stock jumped 4.9% Tuesday to $18.92 in New York, its eighth consecutive rise, bringing its gain this year to 185%.
Photographer: Chris Ratcliffe/Bloomberg

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By Michael Bellusci

January 27, 2021 at 1:04 PM UTC

Updated on

January 27, 2021 at 7:24 PM UTC

This article is for subscribers only.

Day traders have pushed BlackBerry Ltd.’s share price to levels not seen in more than nine years. They’ve also given a jolt to a Canadian investment company that got crushed in last spring’s market crash.

BlackBerry soared as much as 52% Wednesday in New York after a brief trading halt. The stock reached its highest level since 2011, and is up about 300% this year. That is repaying the patience of Prem Watsa and his Fairfax Financial Holdings Ltd., which owns 8.3% of the software firm’s shares, according to data compiled by Bloomberg.