BlackBerry (BBRY) Stock Continues Climbing On Priv

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BlacBerry Ltd (NASDAQ: BBRY)

BlackBerry had a strong trading session on Friday as Priv, the company’s first Android phone, started to ship to its first customers. The gains we saw on Friday are continuing today without a hitch, insinuating that investors are happy to see BBRY working to get involved in one of the world’s most successful mobile operating systems. Today, we’ll talk about the details of Priv, what we’re seeing in the market, and what we can expect to see from BBRY moving forward.

BlackBerry Priv Is Now Available

As mentioned above, Priv, BlackBerry’s first Android phone, started to ship on Friday. The company also stated that Priv will be available through AT&T Inc. (NYSE: T) and its retailers. Ultimately, investors are excited about Priv because BBRY has been struggling to pick up smartphone sales. However, the new phones on the Android operating system are likely to change that. In a blog post statement, John Chen, CEO at BBRY had the following to say:

Today is only the first of many great days, and many of our other carrier and retail partners will soon begin offering Priv in more markets, including Germany, Hong Kong and the Netherlands…”

BlackBerry’s Priv has seen incredibly positive reviews early on. The positive reviews have come as a result of the Phone’s increased battery life, full keyboard and stronger security. Ultimately, investors are hoping that Priv helps BBRY bring life back into its smartphone franchise. At one point, smartphones were a key revenue driver for the company as they took a large market share of the global smartphone space. However today, BBRY smartphones account for less than 1% of the global market.

What We’re Seeing In The Market Today

As mentioned above, BBRY had a great time in the market on Friday as Priv shipments started to take place. That strong growth is continuing today. Currently (10:28), BBRY is trading at $8.17 per share after a gain of 1.87% so far today.

What We Can Expect To See From BBRY Moving Forward

Moving forward, I have high hopes for BlackBerry. My strong opinion on the stock is for a couple of reasons:

  • Priv – First and foremost, let’s stay on topic here, Priv is a great thing for BBRY. While the company once dominated the smartphone market, they have fallen way behind the curve in recent years. The move to an Android based model should help the company lift its struggling smartphone sales. In the world of smartphones, there are three operating systems: iOS, Android, and all others. Unfortunately, BBRY phones fell into the all others category in the past. However, that’s no longer the case.

  • Outside of Phones – When thinking about how BlackBerry earns its revenue, the first thing that likely comes to mind is smartphones. However, it’s important to remember that throughout the year, the company has done quite a bit of restructuring. It’s cloud business is doing well and it is working to further integrate itself into the “Internet of Things”, an incredibly profitable endeavor.

The bottom line is that BBRY has had a rough time in the market in 2015, and for good reason. However, with the positive restructuring we’ve seen from the company throughout the year, it’s hard to imagine that the stock wouldn’t be moving in a positive way in the long run.

What Do You Think?

Where do you think BBRY is headed moving forward? Let us know in the comments below!

[Image Courtesy of Flickr]

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Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

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