Billionaire Jim Simons invests nearly $36 Million in BlackBerry by purchasing 3.3 Million shares


Billionaire Jim Simons has invested nearly $36 Million dollars in shares of BlackBerry. That equates to Mr. Simons purchasing 3.3 Million shares of BlackBerry stock. This investment seems to show that Mr. Simons sticks by BlackBerry CEO John Chen and how BlackBerry is leading the way for the Internet of Things (IoT).

Simons has been quietly backing a new theme out of Silicon Valley called the Internet of Things, or IoT. In essence, the IoT is simply the connection of everyday objects to the Internet. And in recent quarters, he has built huge stakes in companies on the front line of this revolution, such as IBM, F5 Networks and Sierra Wireless.

“BlackBerry is well positioned to lead this revolution. The firm’s QNX operating system is already counted on to run medical devices, nuclear power plants, and vehicle infotainment systems. No other company can match BlackBerry’s reputation for security.

So, while most investors are still focused on capturing the 5 billion handsets in the world, BlackBerry is setting its sights on the 500 billion or so other devices that are out there. That presents a giant opportunity for an organization with the experience and track record of QNX.”

This is great news for BlackBerry! If you had a ton of cash laying around, would you invest in BlackBerry? Let us know in the comments.

Source: Motley Fool