Since topping $10 a share in April, BlackBerry (BB) continued a free-fall that saw its shares bottom at below $7. A world tour for its security software may change its fortunes. Its upcoming earnings report, scheduled for Sep. 24 after market close, could change BB stock’s fall.
To wit, Crowdstrike (NASDAQ:CRWD) enjoys rich valuations but it did fall sharply, from $100 in August to $67. Crowdstrike’s latest earnings accelerated the selling. And now that investors look for value plays with potentially strong prospects, BlackBerry may attract buyers.
BlackBerry kicked off its World Tour 2019 in Tokyo. It will showcase the company’s commitment to securing the Internet of Things. The timing of the launch could never be better. Crowdstrike is losing some steam, so investors may take another look at Cylance’s prospects in boosting BlackBerry’s revenue. Endpoint management, protection, secure communications, and embedded software solutions are a necessity. With 5G implementation underway, autos and other sectors will need secure IoT and 5G solutions.
The tour will bring awareness for its products but to win investors, its upcoming quarterly earnings report will matter more. The market lost patience waiting for revenue re-acceleration. BlackBerry can no longer promise growth sometime in the future without delivering on it.
Consider trading BB stock before and after the earnings report. Holding the stock for longer depends on how strong its latest quarter revenue comes in at.
