Re-branded with a BBRY ticker symbol (it was previously trading as RIMM), BlackBerry’s stock did quite well Monday, opening trading at 13.74 and closing at 14.98 on the NASDAQ. The Monday close was a full 15% higher than Friday’s final trading. Though it’s likely to be coincidental to the new BBRY name, the 15% increase in price is good news for BlackBerry (previously Research in Motion) and its shareholders and could be the beginning of a bounce-back after the stock’s lackluster performance over the last two weeks.
At the very least, I guess it’s good that the stock ticker is better aligned with the way most people refer to the company.
MoolahMitch Not Registered
Posted: February 4, 2013 at 5:35 PM EST
It was due to Bernstein upgrading the stock to market outperform with a price target of $22 along with the news of initial sales figures being good in the UK and pre-orders in Canada.
The analyst is a well known bear on Wall Street so it was a surprising upgrade to add to the Jefferies and Goldman Sachs upgrades/support last week.
dpr ( View Profile) - Posts: 759
Posted: February 4, 2013 at 5:58 PM EST from my BlackBerry 9930 | OS 7.1.0.580
Blackberry difinitely needs a follow up commercial to demonstrate the abilities of BB10.
Amir Saad ( View Profile) - Posts: 502
Posted: February 4, 2013 at 7:36 PM EST
I’d add very to the word well…