BlackBerry sold 90 smartphone technology patents to HuaweiShares of BlackBerry (NYSE:BB) soared Thursday despite an apparent lack of company-specific news. Investors may have been responding to a report published earlier this week that said the company sold some of its patents to Huawei.
Canadian newspaper The Globe and Mail reported Tuesday that BlackBerry had sold 90 smartphone technology patents to the Chinese technology giant Huawei.
BlackBerry stopped manufacturing smartphones back in 2016, but the company still has a large number of patents relating to those devices. Selling some of them is yet another clear sign that it has moved on and is putting its efforts into other businesses.
investors may be continuing to express their positive sentiment toward the tech stock, which is up more than 100% over the past six months.
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