TECH - GM Share Buyback Reminds Analyst Of BlackBerry In The 2000s; Elon Musk Nods In Agreement | Benzinga
New Street Research analyst Pierre Ferragu on Wednesday noted that the buybacks announced by automakers recently are reminiscent of the now-obsolete Canadian smartphone maker Blackberry.
What Happened: “All these car manufacturers buying back shares… this will end in tears. Reminds me of BlackBerry buying back in the late 2000's…” Ferragu, who heads the Global Technology Infrastructure research team at New Street Research, wrote. The analyst’s take comes on the heel of Detroit-based automaker General Motors Co (NYSE:GM) ...