- Blackberry stock is back on retail investment sites after a long hiatus.
- The BB action was one of the old favorites from last year’s meme action.
- The stock also catches a major investment banking upgrade on Monday.
Update: Shares of BlackBerry extended the ongoing rally and hit new monthly highs at $7.45, although they failed to hold higher. The stock price fell slightly to end Monday at $7.13, still up 1.42% on the day. BlackBerry shares returned to the game the previous week after a deep slumber, as investors cheered the news that the company “has announced 13 channel partners (distributors and value-added integrators) who will offer BlackBerry® Jarvis® 2.0 to companies that build critical systems in Asia-Pacific.” In addition, the company also announced the expansion of its collaboration in China with Marelli, one of the world’s leading Tier 1 automotive OEMs.
BlackBerry shares are back. The BB ticker is trending again on social media and retail sites after quite a long hiatus in the desert. It’s a break for you and me, but my editor loves fancy words! But BlackBerry (BB) is definitely back. It was one of the original stocks caught in the frenzy of short-term speculation last year, but it dropped most people’s attention list as the stock could not continue and gave up all his winnings. BB stock fell from $20.17 in June 2021 to $5.80 in February 2022.
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BlackBerry (BB) stock news: announces 13 distribution partners for Jarvis 2.0
BlackBerry was the essential professional phone at the start of the 2010s before being completely overtaken by the emergence of the smartphone. Holding a Blackberry was a sign that you were successful in business, but the company and the phone went the way of Nokia, which was totally demolished by Apple and other smartphone makers. But both Blackberry and Nokia have struggled with varying degrees of success. Blackberry gained renewed attention on Monday by announcing that its Jarvis 2.0 testing tool will be offered by 13 partners to enterprises in the Asia-Pacific region. “Asia-Pacific is at a turning point in how it protects infrastructure and industries against growing IoT security threats as digital automation continues to advance,” said Dhiraj Handa, vice president. of BlackBerry QNX for the Asia-Pacific region.
Jarvis is a testing tool that allows companies to search for potential security branches in their systems. “BlackBerry® Jarvis® 2.0 is a software composition analysis and static application security testing solution designed to analyze binary files within complex embedded systems. It allows you to identify security vulnerabilities in products with software from multiple sources, without the need for source code. It’s a powerful tool that gives you an overview of your binaries and helps you detect potential security issues with just one click,” from Blackberry. timely given the heightened security and hacking issues that surround many systems and businesses are devoting an increasing share of their IT budget to security issues.
BlackBerry Market Forecast (BB)
It certainly reads positively, but that’s just the beginning of the process. BB’s stock price has rallied but remains in a powerful downtrend. The recent spike up to the 50-day moving average is encouraging, but only a breakout of $9.47 would really restore momentum to the bulls. Breaking above $48.50 is the first target and would put BB back in a neutral position. Above $9.47, BB action is bullish. The first resistance is the 50-day moving average at $7.41.
Blackberry (BB) Chart, Daily