Why BlackBerry Shares Fell Almost 10% Last Year
Shares of enterprise software and Internet of Things specialist BlackBerry (NYSE: BB) fell 9.7% in 2019, according to data from S&P Global Market Intelligence. That may not sound too terrible for a full-year measurement, but keep in mind that the S&P 500 market barometer rose 29% over the same period. The Canadian company's unfortunate tumble was driven by a couple of underwhelming earnings reports.
Last year started off on a good note as the former mobile device maker's second-act focus on enterprise software started to pay dividends. After its fiscal fourth-quarter report in April, the stock traded more than 40% higher on a year-to-date basis.
The next report three months later was generally fine, but investors were left unsure about how much value the $1.4 billion acquisition of cybersecurity business Cylance really brought to the table, and BlackBerry's stock took a 9% haircut that day. In September, the fiscal second-quarter report showed BlackBerry's sales growth had slowed down to a level that fell short of analysts' expectations. The stock plunged 22% in a single day based on that report and 24% in September as a whole.
Source Fool.com
