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BlackBerry Shares Gain On Low Volume Day After Christmas

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BlackBerry Shares Gain On Low Volume Day After Christmas
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BlackBerry Ltd (NASDAQ: BBRY) shares have seen great improvement over the past two weeks. The stock is up more than 25 percent with its recent news spurring a year-end rally for the company's stock.

Blackberry's shares are have been up significantly since its $5.96, 52-week lows. The stock traded at $9.39 on Monday afternoon, up 3.2 percent.

The company's new smartphone, the BlackBerry PRIV, had received great reviews. PRIV is also expected to gain more approvals at the upcoming 2016 Consumer Electronic Show.

Blackberry's Executive Chairman and Chief Executive Officer John Chen recently stated, "I am pleased with our continued progress on BlackBerry's strategic priorities, leading to 14 percent sequential growth in total revenue for Q3. We delivered accelerating growth in enterprise software and higher revenue across all of our areas of focus."

"Our new PRIV device has been well received since its launch in November, and we are expanding distribution to additional carriers around the world in the next several quarters," Chen said.

BlackBerry reported financial results on December 18. The company had nearly 70 percent of recurring third quarter software revenue.

For investors, Blackberry is the stock to watch now for the remainder of this week. The company anticipates more growth outcomes from its continued software investments and additional PRIV launches.

Posted-In: News Intraday Update Movers Tech Best of Benzinga

 

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