Despite how common consumers may think BlackBerry is dead, the company is in a position to possibly make triple-digit gains.
Money managers, like that of legendary investor Nelson Obus, are heavily investing in BlackBerry. Everyone “in the know” on Wall Street has heard of Nelson Obus, and take a keen look at where he’s investing.
Obus co-founded Wynnefield Capital, a value-based hedge fund based in New York. Since the company’s inception in 1992, Obus has consistently posted double-digit returns for his clients.
The Motley Fool found in recent SEC filings that Obus has been building a position in BlackBerry. As of September 2014, he owned about 2.1 million shares of $BBRY. At the time, that represented his eighth largest position and nearly 10% of his total portfolio.
BlackBerry’s latest CEO, John Chen, is aggressively working on a turnaround for the company. The company’s biggest asset for a successful turnaround? QNX.
QNX is powering the latest BlackBerry 10 smartphones and over 50 million car infotainment systems. QNX is also paving the way of the future with the Internet of Things coupled with the expansion of BES12.
“While there are 5 billion handsets in the world that we want to connect to, there may be 500 billion devices out there. That presents a tremendous opportunity for an organization with the experience and track record of QNX,” said Chen in a company blog post last year.
IoT could be the next big tech boom. With BlackBerry already positioned ahead of the game, now might be the best time to consider a position with BlackBerry Ltd stock. That’s what another Billionaire investor seems to believe by doubling his portfolio.