BlackBerry Limited ($BB) Stock Forecast: Down 5.8% Today

What is BlackBerry Limited?

BlackBerry (BB) is a technology company specializing in software and services within the cybersecurity and Internet of Things (IoT) sectors. The market sentiment today leaned towards a bearish outlook.

Why is BlackBerry Limited going down?

BB stock is down 5.8% on Oct 31, 2024 14:47

• The successful deployment of commercial satellites by AST SpaceMobile might have shifted investor focus from BlackBerry, impacting its stock negatively.
• The general market decline may have also influenced BlackBerry's bearish performance, with investors potentially choosing to sell off their BB holdings due to a more cautious approach towards risk.
• The specific -1.24% decrease in BlackBerry's stock price could be attributed to traders engaging in profit-taking after witnessing stock gains.

BB Price Chart

BB Technical Analysis

BB News

Will ASTS' Deployment of First Five Commercial Satellites Aid Shares?

AST SpaceMobile successfully deploys BlueBird commercial satellites, expanding coverage of commercial and US government operations.

https://www.zacks.com/stock/news/2358758/will-asts-deployment-of-first-five-commercial-satellites-aid-shares

Why BlackBerry ( BB ) Dipped More Than Broader Market Today

BlackBerry (BB) closed at $2.39 in the latest trading session, marking a -1.24% move from the prior day.

https://www.zacks.com/stock/news/2358133/why-blackberry-bb-dipped-more-than-broader-market-today

Trending Today

Shiba Inu ($SHIB) Crypto Forecast: Up 5.3% Today

Uniswap ($UNI) Crypto Forecast: Up 5.8% Today

Fetch.ai ($FET) Crypto Forecast: Up 11.0% Today

Solana ($SOL) Crypto Forecast: Up 5.9% Today

Pepe ($PEPE) Crypto Forecast: Up 8.2% Today

Ondo ($ONDO) Crypto Forecast: Up 5.2% Today

Memecoin ($MEME) Crypto Forecast: Up 6.4% Today

Dogecoin ($DOGE) Crypto Forecast: Up 7.9% Today

Avalanche ($AVAX) Crypto Forecast: Up 5.9% Today

Kusama ($KSM) Crypto Forecast: Up 5.3% Today

BlackBerry Limited Price History

29.07.2024 - BB Stock was up 5.0%

• Support from Coinbase for major cryptos potentially sparked increased interest and investment in the cryptocurrency market, indirectly benefiting BB as a technology company.
• Positive speculation about XRP's potential significant price upswing may have enhanced overall market confidence, thereby influencing the bullish movement in BB stock.
• Despite recent negative developments related to a lawsuit involving BlackBerry's former chief marketing officer and CEO, market attention appears to be focused more on potential growth prospects in the tech sector, potentially contributing to BB's bullish movement.

12.08.2024 - BB Stock was up 5.0%

• BB stock demonstrated robust bullish momentum, surpassing the overall market performance.
• Collaboration with HaleyTek to integrate BB's QNX platform into cockpit software highlights the company's ongoing innovation and penetration into fresh markets.
• The optimism in the market towards BB appears linked to strategic partnerships and technological progress, fostering greater investor trust and propelling stock value.

16.09.2024 - BB Stock was up 5.6%

• The surge in BlackBerry shares followed the disclosure of profitability specifics for its IoT and Cybersecurity divisions, alongside strategic plans for the Cylance business.
• The anticipation of cyber revenues projected for FY25 ranging between $350 million and $365 million appeared to boost investor confidence.
• Investor optimism about BlackBerry's potential in the cybersecurity industry was reflected in the increased stock valuation.

30.08.2024 - BB Stock was up 6.0%

• Despite strong second-quarter earnings that beat analyst estimates, BlackBerry's stock experienced a bearish movement, indicating a possible disconnect between performance and market expectations.
• Analysts have raised concerns about BlackBerry's path to profitability, pointing to cybersecurity struggles and sluggish IoT growth, likely impacting investor sentiment and the stock's decline.
• The market response suggests that investors may be more focused on the company's long-term challenges and uncertainties, overshadowing positive earnings for the quarter.
• The discrepancy between financial performance and stock movement underscores the importance of considering broader market sentiment and future growth prospects when evaluating investments in tech companies like BlackBerry.

26.08.2024 - BB Stock was up 5.6%

• Despite a slight dip in the previous trading session, BlackBerry (BB) rebounded strongly today, closing at $2.42 with a +1.68% change from the previous close.
• The upcoming Q2 earnings release is anticipated to show positive results, driven by the growth in the SecuSmart business and increased revenues from royalties and professional services.
• The market movement can be attributed to investors' optimism surrounding BlackBerry's potential for growth and profitability in key business segments.
• Overall, BlackBerry's resilience in the market, despite lagging behind in some sessions, indicates a positive sentiment among investors regarding the company's future prospects.

31.09.2024 - BB Stock was down 5.8%

• The successful deployment of commercial satellites by AST SpaceMobile might have shifted investor focus from BlackBerry, impacting its stock negatively.
• The general market decline may have also influenced BlackBerry's bearish performance, with investors potentially choosing to sell off their BB holdings due to a more cautious approach towards risk.
• The specific -1.24% decrease in BlackBerry's stock price could be attributed to traders engaging in profit-taking after witnessing stock gains.

27.08.2024 - BB Stock was down 5.5%

• Strong Q2 earnings were reported by BlackBerry, with revenue surpassing expectations driven by IoT and cybersecurity capabilities.
• Despite the positive financial results, the stock closed lower than the previous session, possibly leading to negative market reactions.
• Investors may have anticipated higher performance considering the growth in the SecuSmart business and increased revenues from royalties and professional services.
• The discrepancy between the stock's decline and the positive earnings could be due to profit-taking or changing market sentiments.

27.08.2024 - BB Stock was up 0.4%

• In Q2, BlackBerry surpassed earnings expectations, with revenues increasing year-over-year, demonstrating strong growth and financial stability.
• The company's focus on IoT and cybersecurity sectors played a key role in exceeding revenue and earnings projections, underscoring its attention to innovative and high-demand areas.
• Despite a recent minor stock price drop, BlackBerry's robust earnings report and positive market sentiment influenced a significant bullish movement today.
• Investors likely reacted favorably to BlackBerry's solid performance and growth opportunities, driving the bullish market movement.

23.09.2024 - BB Stock was down 5.1%

• The bearish movement in BB stock today can be attributed to:
• The absence of positive news or developments from the company.
• Investors taking profits following a recent stock rally.
• Market sentiment becoming cautious amidst overall market volatility.
• Potential worries about competition or industry challenges affecting the stock price.

05.07.2024 - BB Stock was up 5.9%

• Despite the bullish movement in BlackBerry's stock today, the overall sentiment towards tech stocks seems to be shifting, with investors becoming more cautious.
• The ongoing legal issues and negative news surrounding CrowdStrike (CRWD) may have led investors to seek safer alternatives, potentially driving up BlackBerry's stock.
• The dismissal of the claims against BlackBerry's CEO could have provided some relief to investors, contributing to the bullish movement in the stock.
• As investors reevaluate their tech stock portfolios, BlackBerry's focus on cybersecurity solutions may have positioned it as a more attractive option amidst the current market uncertainties.

13.07.2024 - BB Stock was up 5.1%

• BlackBerry's stock showed a notable increase despite little activity in the overall market.
• Speculation about BlackBerry's potential entry into the cannabis sector following the Alabama Medical Cannabis Commission's licensing decisions may have boosted investor confidence in the company.
• Concerns about declining values of tokens on Binance possibly prompted investors to turn to more traditional options like BlackBerry, driving its upward trajectory.
• BlackBerry's strong showing today may have been bolstered by its resilience and prospects in emerging industries.

15.07.2024 - BB Stock was up 5.4%

• The announcement of a documentary by Mark Wahlberg's production company about BlackBerry's real story could have sparked investor interest and positive sentiment in the company's future prospects.
• Despite a slight decrease in stock price by -0.46%, the overall bullish movement indicates that investors are optimistic about BlackBerry's potential growth and performance.
• The participation of BlackBerry Limited in the KeyBanc Capital Markets 2024 Technology Leadership Forum might have provided insights into the company's strategic direction, reassuring investors and attracting new interest.
• The news of two new cultivation licenses granted by the Alabama Medical Cannabis Commission to companies named Blackberry Farms, LLC could have indirectly boosted BlackBerry's stock, as it shows potential diversification and expansion opportunities for the brand.