BlackBerry Ltd (NASDAQ: BBRY)
BlackBerry stock has had a rough time in the market lately. After a critical downgrade from Goldman Sachs, investors seem to have lost faith in the stock, causing it to plummet. However, on Friday, the company shocked the world by producing net gains in a quarter that analysts thought they would lose $10 to $18 million. So, there was a slight improvement in the stock’s value Friday.
Then, yesterday more questions came out about the company. While investors were happy to see that they were able to create a profit, there was a bright red flag in the earnings report. Total revenue missed analyst expectations by more than $100 million. As a result, the value of the stock slipped yesterday.
What’s Happening With BBRY Today?
BlackBerry started the trading day on a bit of a down note, but the stock has recovered a bit since then. Currently (11:28), the stock is trading at $8.85 per share after a gain of 0.57% so far.
Where Will BlackBerry Go Long Term?
Although I’ve caught a bit of flack when it comes to my views on BBRY stock, this is one that I’m particularly bullish on. Now, don’t get me wrong, short term price volatility is going to be an issue for at least a few months; so, this isn’t one to buy into for short-term gains. However, it’s also important to remember that BBRY is moving its software business up the ladder fast, and in the world of the Internet of Things, BlackBerry hardware will play a key role in the long run. That being said, I think we’re going to see some great long term gains from BBRY stock.
What Do You Think?
Where do you think BBRY stock is headed and why? Let us know in the comments below!