2024-01-25 09:30:17 ET
Summary
- BlackBerry stock hits new lows as it raises debt through a private offering, highlighting its struggles to find a successful business model.
- The company's shift to IoT and cybersecurity software has not paid off, with minimal growth reported in these segments.
- The new BlackBerry CEO needs to re-energize the business and return BlackBerry to sustainable growth before the stock is a Buy.
BlackBerry Stock Plunges To New Lows
As Apple (AAPL) stock hits all-time highs and a $3 trillion market valuation, BlackBerry Limited (BB) shares crater to new lows. The company once had the leading mobile device, and now BlackBerry is raising debt via a private offering, sending the stock plunging. My investment thesis is more Neutral on the stock, considering how far BlackBerry has fallen in the last few months....
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BlackBerry: Market Overreacts, But The Company Lacks Catalysts