BlackBerry Ltd (NYSE: BB) is having an incredibly strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced the launch of a new product, known as Jarvis. Today, we’ll talk about the launch of Jarvis, what we’re seeing from the stock, and what we’ll be watching with regard to BB ahead.
BB Announces The Launch Of Jarvis
As mentioned above, BlackBerry is having an overwhelmingly strong start to the trading session this morning after a recent announcement of a new product. The company unveiled what they are calling Jarvis. Jarvis is a transformational software cybersecurity product designed for automakers with highly complex software supply chains. BlackBerry also said that Jarvis is suitable for other industry segments, including healthcare, industrial automation, aerospace, and defense as examples.
In the release, BB said that Jarvis is a one-of-its-kind cloud-based static binary code scanning solution. When scanning Jarvis identifies vulnerabilities in software used by automobiles, delivering deep, actionable insights in minutes. In a statement, John Chen, Executive Chairman and CEO at BB, had the following to offer:
“Connected and autonomous vehicles require some of the most complex software ever developed, creating a significant challenge for automakers who must ensure the code complies with industry and manufacturer-specific standards while simultaneously battle-hardening a very large and tempting attack surface for cybercriminals.”
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, new products generally equate to new revenue streams. So, it’s no surprise that we’re seeing strong gains in the value of the stock today. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:09), BB is trading at $14.30 per share after a gain of 4.76% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BB. In particular, we’re interested in watching to see how the company turns Jarvis into a strong revenue stream. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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