Stock fell 6.3% on September 5
On September 5, BlackBerry (BB) stock fell 6.3% to close at $9.97. The stock is currently trading 11% above its 52-week low of $8.97 and 31% below its 52-week low of $14.55.
The stock fell yesterday after social media giant Facebook (FB) accused the company of stealing its voice messaging technology. Facebook also filed a 118-page complaint accusing BlackBerry of patent infringement.
According to the complaint, BlackBerry allegedly infringed on five patents, including tracking GPS[1. Global Positioning System] data, voice-messaging technology, and the manner in which its application displays graphics, audio, and video data. Facebook has claimed these infringements to be detrimental to its WhatsApp and Facebook Messenger applications.
On March 6, BlackBerry sued Facebook on allegations that Facebook has infringed on seven technology patents. BlackBerry wants Facebook to shut down its popular messaging applications, including Instagram and WhatsApp.
BlackBerry then claimed that it invented modern messaging concepts such as notification icons and time stamps that Facebook allegedly copied from the BlackBerry messenger.