What happened Shares of BlackBerry (BB -2.72%) fell 16.8% in February, according to data from S&P Global Market Intelligence. The stock lost ground due to a price target cut from an analyst and the market's shift away from software stocks.
Full Answer
Why did BlackBerry stock fall 16% in February?
Mar 07, 2022 · BlackBerry stock lost ground due to analyst coverage and sell-off pressures impacting the broader market.
Is BlackBerry (BB) stock now at a full valuation?
Feb 08, 2021 · What Happened with BlackBerry Stock in 2021? BlackBerry’s stock started the year at $6.58 per share, but on January 27, it hit a nine-year high of $25.10 as covered over at runrex.com. While the stock has since retreated and stabilized at the mid-teens, it remains up nearly 140% for the year, a tremendous surge. So, why has BlackBerry’s stock gone up so much …
Is BlackBerry (BB) stock headed for a short squeeze?
Jun 09, 2021 · Shares of once-dominant smartphone maker BlackBerry ( BB -0.22% ), which has since reinvented itself as an Internet of Things company and a provider of automotive software, got a minuscule boost on...
What happened to BlackBerry?
Mar 31, 2021 · What happened BlackBerry 's ( BB -2.48% ) stock price sank 9.7% Wednesday, following the release of the software company's fourth-quarter earnings results. So what BlackBerry's revenue fell 25%...
Why is BlackBerry stock dropping?
The company's total revenue included cybersecurity revenue of $122 million, IoT revenue of $52 million and licensing revenue of $11 million.Apr 1, 2022
Is BlackBerry still a good stock?
Why has BlackBerry stock gone up?
What is the prediction for BlackBerry stock?
Will BlackBerry stocks go up?
Is BlackBerry stock a buy sell or hold?
Will BlackBerry go out of business?
Is BlackBerry coming out with a new phone in 2020?
Is BlackBerry stock heavily shorted?
That's a fairly high level of short interest. It's not as high as it is with GME or AMC, but it's fairly high. If 6.76% of a stock's float has to be bought up all at once, you're going to see a squeeze.Jul 14, 2021
Will BB stock go up tomorrow?
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Munafa value: 75 as on 04 Wed May 2022.
| Upside target | 6.4 |
|---|---|
| Upside target | 6.26 |
| Downside target | 6.07 |
| Downside target | 5.99 |
| Downside target | 5.97 |
What is Nio price target?
The 27 analysts offering 12-month price forecasts for NIO Inc have a median target of 30.88, with a high estimate of 82.82 and a low estimate of 23.04. The median estimate represents a +107.09% increase from the last price of 14.91.
What is BlackBerry now?
What happened
Shares of once-dominant smartphone maker BlackBerry ( BB -2.49% ), which has since reinvented itself as an Internet of Things company and a provider of automotive software, got a minuscule boost on some good news Tuesday. However, the stock gave up those gains and more in Wednesday morning trading. As of 11:20 a.m. EDT, BlackBerry was down by 4%.
So what
As was announced Tuesday, China's BiTECH Automotive has chosen to incorporate BlackBerry's QNX Neutrino Realtime Operating System into its digital instrument cluster -- the modern car's dashboard, with screens telling you how fast you're going and how much fuel you have left, and displaying your navigation information, multimedia controls, and such.
NYSE: BB
All of which is very interesting, but it doesn't tell you much about how important the news is. To gauge that, you first have to know what kind of company Changan Automobile is, and how it's doing.
Now what
Those aren't half bad sales numbers for the middle of a pandemic, and here's the thing: In the first four months of 2021, Changan Automobile doubled its sales versus the first four months of 2020 to nearly 467,000. Based on current trends, it's cruising toward selling a total of 1.4 million vehicles in 2021.
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BB Stock at a Glance
As I alluded to earlier, BB stock was a high flyer with tons of trading volume back in the early 2000’s. However, BlackBerry’s leadership position in the mobile phone market dwindled as the company failed to adapt by adding a touchscreen display.
A Loss, But Also a Beat
So, here’s what happened. BlackBerry had just released its fiscal second-quarter data, and there was a surprise in the mix.
Delivering In Two Segments
With these results, BlackBerry Executive Chairman and CEO John Chen didn’t hesitate to accentuate the positive aspects.
The Takeaway
You probably won’t see too many phones with little keypads anymore, but BlackBerry is still around and they’re surprisingly busy lately.
What happened
BlackBerry 's ( BB 1.51% ) stock price sank 9.7% Wednesday, following the release of the software company's fourth-quarter earnings results.
So what
BlackBerry's revenue fell 25% year over year to $210 million. That was well below the $245 million Wall Street had expected.
NYSE: BB
BlackBerry's shares fell sharply Wednesday. Image source: Getty Images.
Now what
BlackBerry's stock got caught up in the short squeeze mania that helped to drive up the prices of stocks like GameStop and AMC Entertainment in recent months. But while day traders can temporarily impact market prices, the long-term value of a business is ultimately determined by its sales and profits.
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Robinhood trading restrictions sap the short squeeze's strength
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
BlackBerry ( NYSE:BB) stock tanked 20% in 10:30 a.m. EST trading today.
So what
BlackBerry stock sits on a list of eight specific stocks currently restricted for trading on the popular Robinhood stock trading app. Robinhood states that its customers are currently not permitted to buy new shares of BlackBerry if they own 700 or more shares, nor buy new option contracts if they own more than 700 such contracts.
Now what
Yesterday, Robinhood announced that it has secured $3.4 billion in financing "to invest in record customer growth, including $1 billion in funding announced on January 29." The company had previously explained that it imposed trading restrictions in the first place because it lacked the cash to meet "deposit requirements" imposed by its securities clearinghouse..
Other Meme Stocks
Koss (NASDAQ: KOSS) and AMC Entertainment Holdings (NYSE: AMC) are among the more prominent meme stocks. Investors have been taking profits from both over the last few days. Those names probably exert some downward pressure on BB stock. And BlackBerry’s stock indicates that the shares are cooling off.
Short Interest
Investors are constantly searching for the next GameStop, meaning they’re looking for highly shorted equities that will soon be squeezed, resulting in huge profits for those who own the shares.
The BlackBerry of the Future
It’s safe to assume that the word “BlackBerry” conjures up images of cell phones with keyboards from nearly a decade ago. But the Blackberry of today is more about automotive software and cybersecurity than phones. The company has pivoted toward vehicle hardware and automobile operating systems.
Rebounding After Earnings?
On Sept. 22 after the close, the company posted a non-GAAP loss of 6 cents per diluted share in the August-ended fiscal second quarter vs. a profit of 10 cents. Revenue of $175 million fell 32% vs. a year ago. This marked a fourth quarter in a row of shrinking sales. But BlackBerry also posted positive operating cash flow of $12 million.
Company History
Founded in 1984 in Waterloo, Canada, BlackBerry's internet-enabled smartphones became iconic during the dot-com bubble and even after the Nasdaq's market top in 2000. During the first half of that decade, BlackBerry became so addictive that some users called their devices "CrackBerry." Former U.S. President Barack Obama used one in the White House.
BlackBerry, Meme Stock
Equity and option traders joining the WallStreetBets thread on Reddit and other online social platforms have orchestrated stunning campaigns to send not only BlackBerry stock to stratospheric heights. They've done the same with AMC Entertainment ( AMC) GameStop ( GME ), Bed Bath & Beyond ( BYND) and Clover Health ( CLOV ).
Short Interest And BlackBerry Stock
Roughly 34 million shares have been sold short, according to data analyzed by MarketSmith. It would take 4 days' worth of BlackBerry's average trading volume of 8.8 million shares for the short sellers to buy shares and cover their bearish positions.
IBD Ratings Today
BlackBerry's fundamentals do not measure up to, say, those in IBD's Long-Term Leaders.
Is BlackBerry Stock A Buy?
A 53 Relative Strength Rating means BB stock now outperforms 53% of all companies in the IBD database over the past 12 months. Improving from a 37 in December. In general, you'd like to see a score of 80 or higher. A 90 RS Rating or 95? Even better.
What Happened With Blackberry
What likely happened is that investors and the market were not impressed with the June 24 release of the company’s fiscal Q1 earnings. Blackberry’s sales were $174 million in Q1, or 17.1% below the year-ago quarterly sales of $210 million.
Where This Leaves BB Stock
The problem now is that analysts do not have a lot of faith in the company’s ability to grow going forward. Its largest division, Cybersecurity, is not moving forward with higher sales.
Bb Stock at A Glance
A Loss, But Also A Beat
- So, here’s what happened. BlackBerry had just released its fiscal second-quarter data, and there was a surprise in the mix. To begin, BlackBerry reported a net loss of $144 million, which equates to 25 cents per share. That doesn’t sound like a reason to celebrate, right? Especially when we compare this result to the milder net loss of $23 million, or 4 cents per share, from the year-ago …
Delivering in Two Segments
- With these results, BlackBerry Executive Chairman and CEO John Chen didn’t hesitate to accentuate the positive aspects. Chen proudly observed that revenue for all of BlackBerry’s businesses beat expectationsin 2021’s second fiscal quarter. Fair enough, now we can drill down to what specifically drove the company’s Street-beating results. “The Cyber Security business un…
The Takeaway
- You probably won’t see too many phones with little keypads anymore, but BlackBerry is still around and they’re surprisingly busy lately. It’s a whole new company, really. The BlackBerry of today is still tech-focused, but the revenues are coming from different segments. As for BB stock, the meme-stock traders might pump it and forget it again at some point. That’s not the main con…