After a week of being sold out after announcing the release dates for Walmart and Best Buy buyers, BlackBerry Priv send BlackBerry’s stocks soaring.
CNN Money reported that the stock price for BlackBerry (BBRY) increased to 7% on December 10. It’s one of the bigger movers in the market, with Zacks Equity Research ranking it as #3 with a “hold” status.
Both Walmart and Best Buy had to restock their BlackBerry Priv after selling out last week. Walmart sold everything within a day.
This is a good comeback for the company, who has to think of better ways to compete in a market dominated by Android and iOS devices. Forbes reported Blackberry CEO, John Chen, acknowledged the challenges ahead of him in the company. With the weakened portfolio, lack of acceptance from original customer base, Forbes noted that BlackBerry is just starting on its tumultuous journey of recovery.
There are not sales figures out yet, but Ewan Spence of Forbes knows it’s doing well. And from the vote of confidence it received in the stock market, this is not far from reality.