BlackBerry seeks official probe of analyst report claiming high return rates
Anne Buckley, general counsel and chief compliance officer at Detwiler Fenton, said the firm stands by its claims and welcomes any regulatory inquiry into the report. She also noted that neither its research analyst nor any officer or director at the firm owns BlackBerry shares.
BlackBerry has said Detwiler Fenton refused to make its report or its methodology available even after the smartphone maker said the findings were "absolutely false."
The report tarnishes what has been a relatively smooth launch for the new BlackBerry touchscreen in the United States, though sales figures haven't been made public by the company. While some analysts have expressed concern over the lack of promotional marketing, few have called it an outright failure.
BlackBerry chief executive Thorsten Heins said sales of the BlackBerry Z10 have been meeting expectations and data collected from retailers and carriers demonstrate that customers are satisfied with their devices.
How, mathematically, is it possible for returns to "exceed sales", anyway?
If Detwiler Fenton has a large short position on BB stock, then it would be in their interest to publish a negative report. And theirs is the only report making that assertion.
Kn.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.