- NYSE: BB has risen by nearly 5% on Tuesday and is set to advance at the same rate on Wednesday.
- Investors are shrugging off a negative analysis by RBC.
- BlackBerry's valuation is similar to Gamestop and also garners attention from retail traders.
BlackBerry Ltd. (NYSE: BB) is not only a blast from the past – but also a hot stock in 2021. The Canadian maker of handhelds – one belonging to then-president Barack Obama – has genuine reasons to rise, including deals with three large tech firms.
However, the experts at RBC suspect that the recent rise in its shares makes it overvalued. Paul Treiber, an analyst at the bank, downgraded the stock to "underperform" from "sector perform. " Treiber cited a drop dollar-based net revenue retention in BB's third-quarter results and also doubted the chances of the firm significantly benefiting from Intellectual Property. Investors beg to disagree.
BB Stock Forecast
NYSE: BB has risen by 4.94% on Tuesday and Wednesday's premarket trading That would put it at fresh nine-year highs – it last traded at these levels in 2012, when around the time that Obama probably picked another phone.
Will the retail crowd drop Gamestop (NASDAQ: GME) and pick up NYSE: BB? While these tech firms are in different fields, both are valued at around $10 billion and both are garnering the attention of retail traders. The Gamestop army of Reddit retail traders against hedge funds is related to options, some expiring on Friday. Will Wall Street Bets' participants move to another target of a similar size?
Another point to watch is a bearish sentiment from institutional against enthusiasm from smaller investors. An answer to this question could be seen toward the of the week.
See
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD recovers above 0.6250 amid China's stimulus-led optimism
AUD/USD is recovering ground above 0.6250 early Monday, moving away from multi-month lows of 0.6199 set last week. The pair finds support from renewed optimism linked to reports surrounding more Chinese stimulus even as the US Dollar rebounds at the start of the Christmas week.
USD/JPY: Buyers stay directed toward 157.00
USD/JPY holds firm above mid-156.00s at the start of a new week on Monday. Doubts over when the BoJ could hike rates again and a positive risk tone undermine the safe-haven Japanese Yen while the US Dollar regains its footing after Friday's profit-taking slide.
Gold downside bias remains intact while below $2,645
Gold price is looking to extend its recovery from monthly lows into a third day on Monday as buyers hold their grip above the $2,600 mark. However, the further upside appears elusive amid a broad US Dollar bounce and a pause in the decline of US Treasury bond yields.
The US Dollar ends the year on a strong note
The US Dollar ends the year on a strong note, hitting two-year highs at 108.45. The Fed expects a 50-point rate cut for the full year 2025 versus 4 cuts one quarter earlier, citing higher inflation forecasts and a stubbornly strong labour market.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.