BlackBerry has been one toxic stock to invest in over the last few years. However, the company looks to be making a strong comeback.
The company’s stock is now up over 50 percent this year and is one of the best performers in its division. In the beginning of 2014, BlackBerry’s stock sat around the $7.xx range.
Yesterday it closed at $11.21 and it is still hanging around the $11 range as of this writing. Despite the doom and gloom reports of the past, it is great to see the company is creating value for its shareholders.
How is BlackBerry’s competition doing? Apple is only up 20 percent on the year and Google at 5 percent.
While BlackBerry’s future is still uncertain and analysts caution the company has yet to improve its revenue growth or its profit margin, investors seem to like the company’s current approach of slashing costs.
It will be interesting to see the market receptiveness towards the upcoming BlackBerry Passport, OS 10.3, and Blends.