BlackBerry Stock Price – Buy or Sell?

by admin

BlackBerry is a company that has struggled to make money in the long run, but the stock has a solid upside potential. The company has been heavily shorted in recent years, and the stock’s recent move symbolizes short covering by users of the Robinhood app. Short sellers borrow shares from a broker and sell them for less than they’re worth in the hopes of buying them back later at a lower price. However, when the stock surges, short sellers must close the trade and close their position, which acts as nitro for the rising stock.

Since the end of June, the stock has been cooling. Its earnings per share dropped 50% and the company reported weaker-than-expected sales and profit results. The stock has since rebounded sharply. Wall Street believes that BlackBerry will lose 15 cents per share in February 2022, while analysts had previously forecasted a three-cent profit in FY 2023.

You may also like

Leave a Comment