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After losing nearly 42% of its value in the previous couple of quarters, BlackBerry (TSX:BB) stock seems to be regaining strength in the ongoing quarter. The Waterloo-headquartered enterprise company’s stock currently trades at $3.94 per share with a market cap of $2.3 billion after surging by over 9% over the last 30 seasons. By comparison, the TSX Composite benchmark has seen around a 1.6% increase during this period.
Before I try to answer the question of where BlackBerry stock will be in a year, let us first understand the key factors that are driving its performance in 2024.
What’s driving BlackBerry stock in 2024?
If you don’t know it already, in the last more than a decade, BlackBerry has evolved from its original focus on smartphones to become an enterprise software firm. It now primarily focuses on cybersecurity, endpoint management, and Internet of Things (IoT) solutions. Although its…
