Is BlackBerry Poised to Head Higher?
With shares of BlackBerry (NASDAQ:BBRY) trading around $9, is BBRY an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
BlackBerry is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software, and services, it provides platforms and solutions for seamless access to information such as email, voice, instant messaging, SMS, Internet, intranet-based applications, and browsing. Its products and services feature the BlackBerry wireless solution, the Research In Motion Wireless Handheld product line, the BlackBerry PlayBook tablet, software development tools, and other software and hardware.
BlackBerry was gaining 1.2 percent to $9.53 Friday following the news that smartphone maker will sell most of its real estate in Canada. The company did not say who is purchasing the land, or the purchase price, but did announce it will sell 3 million square feet of space and vacant land. BlackBerry will lease back part of the land that it sells. ”The successful sale of property in Canada will help us move toward our goal of continued operational efficiency,” CEO and executive chair John Chen said in a statement. BlackBerry first announced its plans to sell most of its Canadian real estate in January.