BlackBerry Stock (BB) risen by 4.3% over the last week.

BlackBerry stock (BB), the smartphone pioneer that has since reinvented itself as a provider of cybersecurity and automotive software, has risen by 4.3% over the last week (five trading days). The gains, which come despite the broader S&P 500 declining by about 0.5% over the last week, are driven primarily by BlackBerry’s stronger than expected Q2 results which were published on Wednesday.

Stocks for BlackBerry Ltd

The BB Stocks has also been terribly weak in 2022. Since November, it has corrected almost 45% and is currently trading close to 14-month lows.

Although revenues declined, falling 34% year-over-year to $175 million due to lower licensing revenue which is typically lumpy, this was better than expected. Investors were also likely pleased that BlackBerry is faring better in the cyber security market, with its cyber security products posting robust sequential billings and revenue growth.

Based on trends in the company’s stock price over the last ten years, the Trefis Machine Learning Engine finds that average returns for BB stock to be around 1% in the next one-month (twenty-one trading days) period after experiencing a 4.3% rise in a week (five trading days).

Written by Maryam Nawaz

MPhil International Relations (Specialization in International Politics and Economy)

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