- The stock price of BlackBerry (NYSE: BB) is trading at over 40% this past week as it went from a stock price of $7.60 on January 11 to over $11.15 today (at last check — 10:02 AM ET). This is why it happened.
The stock price of BlackBerry (NYSE: BB) is trading at over 40% this past week as it went from a stock price of $7.60 on January 11 to over $11.15 today (at last check — 10:02 AM ET). There appears to be multiple triggers that led to the stock price increase.
One of the main triggers for the stock price rally this week may be due to a report by The Globe And Mail that says BlackBerry sold 90 patents to Huawei, which largely covers smartphone technologies. BlackBerry had stopped manufacturing smartphones in 2016. It is estimated that BlackBerry has over 38,000 patents, according to Techradar.
Today it was also reported that BlackBerry and Facebook are nearing a settlement of their litigation. “The parties are in the process of implementing a global settlement agreement,” said BlackBerry in a filing via Bloomberg Law.
BlackBerry’s stock price is up more than 85% since November 30. One of the reasons why BlackBerry’s stock price rallied in early December has to do with the company signing a deal with Amazon Web Services for building an intelligent automotive platform in order to analyze vehicle sensor data.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
