why blackberry stock down

Why have BlackBerry shares dropped?

Is BlackBerry stock a good buy now?

Is BlackBerry stock a buy sell or hold?

What is the prediction for BlackBerry stock?

Will BlackBerry stocks go up?

Is BlackBerry going out of business?

Does BlackBerry stock pay a dividend?

What's happening to BlackBerry?

Will BB stock go up tomorrow?

What is Nio price target?

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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TSX: BB

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What happened

Shares of Blackberry ( BB 1.38% ) were down 14.3% in September, according to data from S&P Global Market Intelligence.

So what

BlackBerry used to produce cellphones, but with the iPhone and others disrupting that market in the past decade, the company was forced to transition its business model. It chose security for internet-connected devices, and according to its website, the company secures 500 million endpoints and 195 million vehicles with its technology.

Now what

Unlike the other meme stocks, which seem to be in shrinking industries, BlackBerry has pivoted its business to a growing market: security for internet-connected devices. The company has won contracts with 24 out of the 25 largest electric vehicle makers, representing 82% of the industry's production volume.

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Why is BlackBerry stock weak?

The problem here and a major reason for BlackBerry stock’s weakness today is simple. The company is in negotiations to sell off a big chunk of its patent portfolio. This has and will continue to negatively affect licensing revenue. But I view this as short-term pain for long-term gain, because it’ll result in greater focus. BlackBerry is holding onto patents in its focus areas, cybersecurity, and connected cars. It’ll also result in a cash inflow. This cash inflow will be put to use to speed up BlackBerry’s growth. For example, acquisitions may be made, there may be more spending on marketing, sales, and tech. This will all further the company’s penetration of its industries.

What is BlackBerry software used for?

BlackBerry’s software has long been used for infotainment systems, acoustics, and dashboard functions. Its expertise has more recently been extended. It now includes more advanced technologies such as Advanced Driver Assistance Systems. These systems are designed to enhance driver performance. They do this by automating functions, giving warnings, and intervening when necessary.

What is BlackBerry QNX?

BlackBerry QNX is at the forefront of transforming automobiles into connected systems today and autonomous vehicles tomorrow. In the quarter, BlackBerry QNX continued to see a recovery after being hit hard in the early days of the pandemic. BlackBerry’s software has long been used for infotainment systems, acoustics, and dashboard functions.

What is the Motley Fool's recommendation for Amazon?

The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends BlackBerry and BlackBerry and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.

Is BlackBerry still in the building phase?

The transitioning of its business model away from phones has been a long road. Even today, BlackBerry remains in the building phase. But the light at the end of the tunnel is becoming clearer. For example, BlackBerry has won many industry awards for its software.

Is BlackBerry QNX bouncing back?

So, back to the good news of the day. BlackBerry QNX is bouncing back to pre-pandemic levels. In fact, the company expects billing growth to be in the double-digit range for fiscal 2022. But right now, revenue growth remains elusive for BlackBerry.

Why did BlackBerry lose revenue?

BlackBerry’s net loss was in line with expectations. While the revenue decline was primarily due to lower licensing revenues, which are typically volatile, BlackBerry saw its Internet Of Things software sales rise sharply by almost 48% year-over-year to $43 million, as demand for its QNX operating system, which is used in automobiles, jumped.

Is Forbes opinion their own?

Opinions expressed by Forbes Contributors are their own.

Will hacking force companies to double down on cybersecurity?

Multiple high-profile hacks and increasing digitization of business following Covid are likely to force companies to double down on cybersecurity. See our indicative theme of Cyber Security Stocks for a list of companies that stand to benefit from the trend.

Is BlackBerry a high growth company?

BlackBerry plays in some very high-growth markets, including automotive software and cybersecurity, and has made multiple strategic acquisitions and forged many high -profile partnerships. However, competition in these markets is intense and BlackBerry’s execution thus far has been lackluster.

Why is BlackBerry stock declining?

BlackBerry (TSX:BB) (NYSE:BB) stock could be declining, because the short squeeze has been blocked by American brokers. Canadian investors could consider buying the dip.

Is Deep Value stock undervalued?

Despite the recent spike and volatility, the stock is still highly undervalued, as it is trading under 10 times sales.

Is BlackBerry stock shorted?

BlackBerry stock is still one of the most shorted on the market. However, this morning discount brokerage platform Robinhood delisted BlackBerry stock along with several other short-squeeze targets. This has blocked access to BlackBerry stock for millions of traders. Meanwhile, regulators are looking at clamping down on such strategies.

What is the symbol for BlackBerry?

BlackBerry trades on the New York Stock Exchange (NYSE) under the ticker symbol "BB."

What is BlackBerry Ltd?

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems. The company was founded by Michael Lazaridis, James Laurence Balsillie, and Douglas E. Fregin on March 7, 1984 and is headquartered in Waterloo, Canada.

What is the P/E ratio of BlackBerry?

The P/E ratio of BlackBerry is -8.77, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Is BlackBerry a sell or buy?

Wall Street analysts have given BlackBerry a "Sell" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but BlackBerry wasn't one of them.

Does BlackBerry pay dividends?

BlackBerry does not currently pay a dividend.