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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For further details see:
BlackBerry: Not Even A Meme Stock Rally Will Save Investors