The stocks of BlackBerry have surged by 11% after the launch of PRIV
BlackBerry Ltd. is now on the verge of exciting all its investors. There is finally some good news for the company where the stocks of the company have surged by 11% today. According to Wal-Mart, the company first Android smartphones “Priv” that was stocked at their online stores has now been tagged as “Out of Stock”. This clearly indicates that the smartphone succeeded in gaining traction as Wal-Mart was soon out of the smartphones in just a day after it was launched.
So now the question here arises that the good start of the sales of BBRY’s Android smartphones will actually help the company in sustaining growth in the long term. This seems like the company has finally found a ray of hope that has also reflected positively on BlackBerry’s stocks. The company had to deal with technological failure in the past and was also a victim of a highly competitive environment. The investors at the company reflected quite positively to this recent upgrade. This is considered to be the first step contributing positively towards the popularity of “Priv”
The company had been struggling since a long span of time and there was no hope of redemption. BlackBerry took several initiatives to get back to its initial glory but all efforts failed miserably. However, now they took a smart decision to launch a smartphone that runs on the popular open sourced Google Android platform. This gave the users more options to play around since now they have a wide array of apps on the Play Store to choose from as per their liking. Moreover, when the company designed Priv, it was more devoted to privacy and security which many smartphone manufacturers tend to neglect. This also gave the device an edge in terms of its competitors.
As of yet, the smartphone company’s stock is being traded at 8.82% where the stock price is $8.02. This was recorded at 2:51 PM EST. it needs to be noted that almost 10 million stocks have now been traded at large. This is in contrast with the company’s daily average which is 5.84 million for the stocks.
Hence it a nutshell, the company has been doing quite well if it continues to maintain the same approach. What they actually need to do is that offer products that are easy to use and comply to the popular mindset and also stick with its corporate brand image to lure a distinct segment of the market.