Prominent investment group Kahn Brothers increase stake in BlackBerry by 80%
Prominent investor Irving Kahn has increased his firm's stake in BlackBerry from 250,000 shares to 450,000. The Kahn Brothers group generally invests in unpopular stocks, and BlackBerry certainly qualifies. Seeing as Irving is 108 years old, he probably has a pretty good radar for companies that will ultimately make it in the long haul.
BBRY stock is currently sitting at $7.38 on Nasdaq, which is up from $6.48 six months ago, and down from $15.25 a year ago (and obviously down from their 2008 peak of $147.55). At such low prices, it's no surprise to see investors interested in BlackBerry, though one would hope that they would hang on when (or if) the company makes its turnaround. Of course, Fairfax Financial remains the biggest stockholder right now.
How many of you guys are BlackBerry stockholders? Have you heard of the Kahn Brothers before? Anybody else thinking of investing with the stock prices where they are?
Thanks for the tip, Joey!