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BlackBerry (BBRY) Gained 56 percent In Stocks In Rein Of John Chen

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Investors got huge satisfaction from BlackBerry Ltd (NASDAQ:BBRY)’s CEO, John Chen who has reduced the expenses and raised a 56 percent in stocks of the Canadian Company. The company’s next goal is to enlarge instant messaging and decrease losses in the hardware sector. His aim is to make company more growing and profitable, according to Chen.

With Foxconn Technology Co., Ltd. (TPE:2354), Chen has signed a deal to farm out smartphone manufacturing and support money by deciding to sell much of Canadian real estate of BlackBerry.
According to Philip Petursson, managing director at Manulife Asset Management, Chen is very dedicated to his work and doing his work much better than expected and doing his job at right time. About $263 billion are supervised by the Toronto-based firm in assets including shares of BlackBerry.

Chen has joined the company at a point when it has lost all market shares to competitors including Samsung and Apple Inc. (NASDAQ:AAPL) with stocks that had fallen more than 90 percent from its 2008 peak. And when his name is given for CEO position, the company’s attempt of $4.7 billion buyout plan had fallen down.

Chen has also mentioned that BlackBerry faced huge criticism and a severe negative view but they are able to design a plan and show some implementation now. On Thursday, the company’s shares have increased 56 percent from that bad position to present and the market value of company is now $5.3 billion. During the first four months on his job, the average increase was 12 percent which is given by Equilar. This is the best aptitude showed in the Nasdaq Composite Index by any CEO till now.

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