Could BlackBerry Stock Continue to Soar in 2021?

Former Canadian smartphone maker now software company BlackBerry Ltd. (TSX:BB)(NYSE:BB) has recently been given a bunch of attention from investors in Canada and internationally due to a high-profile deal the company recently struck with Amazon.com, Inc. (NASDAQ:AMZN). The deal is of a multi-year nature, and is focused on the BlackBerry IVY program. This is essentially a suite of software that allows for insights gleaned from data from car sensors and information stored at the source via BlackBerry’s QNX platform which has been looking for a partner for some time.

The fact that BlackBerry finally got a high-profile deal done is very bullish for the long-term prospects for this stock. The actual numbers haven’t come in yet, so we’ll have to wait a few quarters to truly see what the impact this deal will have on BlackBerry’s bottom line, but I think it’s safe to say that the growth trajectory of BlackBerry just took off.

This is a love-and-hate company for Canadian investors, many of whom lost their shirts with this one during the crash this stock experienced after the release of the iPhone and other android options which pushed the BlackBerry out of the market. BlackBerry will be looking to carve out a niche it can defend in the vehicle software space, something this company is closer to doing than ever. I think this is a stock that indeed could continue to soar in 2021, and is one of those interesting "play money" bets that could really work out for bullish investors. Don’t bet the farm on this one, but having some exposure is not a bad idea for those underweight tech.

Invest wisely, my friends.