BlackBerry Ltd (NASDAQ: BBRY)
BlackBerry investors are eagerly anticipating a comeback after the company produced positive gains on its most recent earnings report. Throughout the past few weeks, the stock has struggled quite a bit in the market after a Goldman Sachs downgrade sparked a sell off and negative media started to revolve around the company. However, the bulls are looking for a comeback; using the surprise earnings we saw Friday as a reason for upcoming growth.
We Started To See A Comeback Yesterday
Yesterday was a great day for BlackBerry stock as slow and steady growth kept the stock moving up throughout the day. Yesterday, BBRY closed the day off at $8.93 per share after starting the day in the red at $8.61 per share by 10:00.
BBRY Flirts With Momentum Today
Today has been a bit of a different story for the stock as it seems confused with regard to where it should go. For most of the day, BBRY has straddled the green line; dipping below, and rising above occasionally. However, we haven’t seen a real trend start to form quite yet. Currently (11:54), BlackBerry is trading at $8.97 per share after a slight gain of 0.45%.
Will BlackBerry Stock Bounce Back?
I think it will. While the bears point to the miss in revenue we saw on the last earnings report, I think the bigger picture is being missed. We also found out that BBRY is improving its software business, and that even though the revenue was a miss, the company was able to surprise the world with gains. To count them out now just wouldn’t make sense. So, I think we’re going to see a comeback in the very near future.
What Do You Think?
Where do you think BBRY is headed? Let us know in the comments below!