BB Stock Summary and Trading Ideas (Blackberry | NYSE:BB)

BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

Blackberry trades on the NYSE stock market under the symbol BB.

As of April 18, 2024, BB stock price climbed to $2.79 with 6,657,627 million shares trading.

BB has a beta of 1.22, meaning it tends to be more sensitive to market movements. BB has a correlation of 0.05 to the broad based SPY ETF.

BB has a market cap of $1.64 billion. This is considered a Small Cap stock.

Last quarter Blackberry reported $173 million in Revenue and $.03 earnings per share. This beat revenue expectation by $18 million and exceeded earnings estimates by $.06.

In the last 3 years, BB stock traded as high as $20.17 and as low as $2.46.

The top ETF exchange traded funds that BB belongs to (by Net Assets): CIBR, BUG, ROBT, DRIV, IGV.

BB has underperformed the market in the last year with a return of -37.6%, while the SPY ETF gained +22.3%. In the last 3 month period, BB fell short of the market, returning -16.5%, while SPY returned +6.1%. However, in the most recent 2 weeks BB has outperformed the stock market by returning -0.7%, while SPY returned -3.8%.

BB support price is $2.64 and resistance is $2.88 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BB stock will trade within this expected range on the day.