BB - BlackBerry: Not Even A Meme Stock Rally Will Save Investors

2024-05-14 11:26:10 ET

Summary

• BlackBerry stock, at the time of writing this article, is up over 15% in today's trading, aided by the resurgence of meme stocks.
• With BB no longer being identified as one of the most shorted stocks, I believe this meme stock enthusiasm will be short-lived compared to 2021.
• From a fundamental perspective, the cybersecurity and IoT businesses show some positive signs, but long-term growth prospects are questionable.
• Intense competition, limited R&D investments, and the entry of Big Tech companies pose challenges for BlackBerry's future success.

BlackBerry Overview

The meme stock mania is making a comeback. So is BlackBerry Limited ( BB ), not so surprisingly. BB stock gained close to 75% yesterday, with investors primarily focusing on GameStop Corp. ( GME ) after Keith Gill, who goes by "Roaring Kitty" on X, posted the below image on the social media platform after a hiatus of 3 years....

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