BlackBerry (BBRY) stocks have been a major topic of discussion in the tech market lately. While the stock seemed to be doing pretty well, and the outlook for the company was moving in the right direction, Goldman Sachs downgraded its rating of BlackBerry (BBRY) to “Sell” and reduced their target price. Following the unfounded downgrade, BlackBerry (BBRY) stocks fell dramatically in value. However, it seems as though the company is back on the uptrend; as most investors expected it to be. So, today I thought it would be fun to point out the most compelling reasons that BlackBerry (BBRY) should be in your portfolio regardless of what Goldman Sachs says.
BlackBerry (BBRY) Stock Is Dirt Cheap!
Thanks to Goldman Sachs, BlackBerry (BBRY) stock is dirt cheap at the moment. Currently, the stock is under $10 per share following the downtrend we saw earlier in the week. However, over the next 12 months, the stock has the potential to rise to $17 per share if all goes right. That’s the type of price movement that would make just about any investor’s mouth start watering.
Invest Where The Big Money Goes
Big money seems to be making bets that BlackBerry (BBRY) stock will indeed turn around. As a matter of fact, in the last quarter, billionaire investors and hedge fund managers showed how interested they were in the stock. Here’s what we saw with regard to big money investing in BlackBerry (BBRY) in the last quarter…
- Hedge Fund Managers – Nelson Obus, Paul Tudor Jones, Irving Kahn all either started investing in BlackBerry (BBRY) or increased the size of their stake in the company in the last quarter.
- Billionaires – Prem Watsa owns a $512 million position in BlackBerry (BBRY) stock and Jim Simons increased his stake in the company; now controlling 3.3 million shares, a nearly $36 million stake in the company!
BlackBerry (BBRY) Isn’t Just A Cell Phone Company Anymore
When you think of BlackBerry (BBRY), chances are that you think of the old phones with keypads that brought light to the smartphone era. While BlackBerry (BBRY) hasn’t given up and probably will never give up with regard to smartphones, the company has grown to be much bigger than a cell phone manufacturer.
These days, we live in a world of the internet of things. Companies all over the world are racing to connect as many people to the online community as possible. This drastic change in networking isn’t all focused online. As a matter of fact, it takes both hardware and software to make this technology even possible. These open the world to an entirely new industry, the industry of worldwide networking.
In this industry, the demand is exponential, the supply is minimal, and the potential for profit is unreal! The best part in all of this is that BlackBerry (BBRY) has a very big hand in this industry!
What Do You Think?
Do you think that BlackBerry (BBRY) is a good investment? Why or why not? Let me know in the comments below!