BlackBerry Stock Hits 20-Year Low After Private Debt Offering
- Canada-listed stock fell as much as 20% on Wednesday
- Company offered $175 million in convertible senior notes
Once a Canadian tech darling, the company’s Toronto-listed shares fell as much as 20% on Wednesday to C$3.94, closing the session at its lowest point since May 2003.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
BlackBerry Ltd. shares hit its lowest point in about 20 years this week after the software company offered convertible senior notes in a push to cut down on its debt.
Once a Canadian tech darling, the company’s Toronto-listed shares fell as much as 20% on Wednesday to C$3.94, closing the session at its lowest point since May 2003. In the late 2000s, BlackBerry was one the biggest players in the global smartphone market with a peak market value of over C$80 billion. Now it’s worth about C$2.3 billion.