BlackBerry says it ignores reason for soaring stock prices

(Reuters) – Canadian company BlackBerry Ltd said it was not aware of any reason for a surge in its share price on Monday that has taken gains more than 150% since the start of January.

US-listed shares of the security software provider rose 17.7% to $ 16.53, for a seventh straight session of gains.

Responding to a request from the Investment Industry Regulatory Organization of Canada securities regulator, BlackBerry said it was not aware of any significant and undisclosed corporate development that may have resulted in the surge in its shares and trading volume.

The latest jump in the company’s shares comes after Blackberry, the name once ubiquitous in the smartphone industry, on Jan.15 settled a patent royalty dispute with Facebook Inc.

Security filings Thursday showed some senior executives sold BlackBerry shares last week, with marketing director Mark Wilson selling 78,500 shares and CFO Steve Rai unloading 32,954 shares.

(This story corrects to say seventh consecutive session of earnings, not eighth, in the second paragraph. Removes reference to monthly earnings in the same paragraph)