Can Black Berry Stock ($BB) Re-awake? As Memestocks Surge

14 พ.ค.

Blackberry's stock (BB) price has fallen by over 90% from its 2021 high, indicating a decline in the company's business. The company's annual revenue dropped from over $1.04 billion in 2020 to $843 million in the last financial year, and it reported substantial losses, with the largest one occurring in 2020. Blackberry has lost over $2 billion in the last five years.

The company's Q1 revenue was $173 million, with cybersecurity contributing $92 million. IoT revenue was $66 million, and licensing rose to $15 million. Management expects the loss-making to continue for a while and is working to fix it through cost cuts. However, Blackberry is still struggling to reinvent itself, as it exited the industry and left Apple, Samsung, and Huawei in charge.

Blackberry (BB) is now aiming to become a leading player in industries like automotive, cybersecurity, and the Internet of Things, but these sectors are not growing as fast as they used to in the past. The company faces substantial competition from other companies.

Blackberry (BB) and other meme stocks surged by double-digits this week after the return of Roaring Kitty, with AMC and GameStop leading the charge. The stock price has moved sideways in the past few weeks, and remained below the crucial level at $5.80 and the 50-day moving average. If this is correct, the stock will likely jump sharply as buyers target the key resistance at $5.80, which is about 87% above the current level. This view will become invalid if the stock drops below the year-to-date low of $2.50.