BlackBerry Ltd rises despite market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 30 2024
0mins
Source: Coinmarketcap
BlackBerry Ltd's stock rose by 5.00% as it crossed above its 5-day SMA, indicating a strong upward movement in price despite the overall market decline.
The rise in BlackBerry's stock price comes amid a lack of relevant news, suggesting that the increase may be attributed to sector rotation as investors seek opportunities in technology stocks while the broader market, including the Nasdaq-100 and S&P 500, is experiencing losses.
This movement could indicate a shift in investor sentiment towards BlackBerry, potentially positioning the company for future growth as it navigates through a challenging market environment.
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Analyst Views on BB
Wall Street analysts forecast BB stock price to fall
4 Analyst Rating
1 Buy
3 Hold
0 Sell
Hold
Current: 8.780
Low
4.50
Averages
5.03
High
6.00
Current: 8.780
Low
4.50
Averages
5.03
High
6.00
About BB
BlackBerry Limited is a Canada-based company, which provides enterprises and governments the intelligent software and services. The Company delivers operational resiliency with the certified product portfolio for mobile fortification, mission-critical communications, and critical events management. It operates in three segments: QNX, Secure Communications, and Licensing. The QNX segment consists of the QNX business, BlackBerry Certicom, and BlackBerry Radar. The Secure Communications segment consists of BlackBerry UEM solutions, BlackBerry AtHoc, and BlackBerry SecuSUITE. Its endpoint management platform includes BlackBerry UEM, BlackBerry Dynamics, BlackBerry Workspaces solutions, and BlackBerry Messenger (BBM) Enterprise. The Licensing segment consists of the Company’s intellectual property arrangements and settlement awards. Its BlackBerry Radar is a family of asset monitoring and telematics solutions for the transportation and logistics industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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