BlackBerry Shares Rally 10% on Announcement of New Phones and Enterprise Products

Posted by Techvibes NewsDesk

BlackBerry's stock shot up well over 10% this morning. Why? A bunch of announcements at the Mobile World Congress in Spain, the biggest two of which were the unveiling of new devices and a new enterprise service.

However, the stock's gains have since slowly eased up to around 9%, likely due to investors realizing most of the things BlackBerry announced won't actually be available for several months or more. Still, it's one of the strongest one-day rallies for the Waterloo-based smartphone maker in recent memory. And after years of mostly bad news, it's always nice to see Canada's former tech darling fight back.

The company's shares are currently trading for just under $12—a far cry from the $140 they traded for at BlackBerry's peak in 2008 and 2009, but still much better than the $6 they were trading for last year.

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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