Why BlackBerry Stock Is Plummeting Today

Shares of (NYSE: BB) are falling on Wednesday. The technology company's stock lost 8.6% as of 3:30 p.m. ET and was down as much as 21.2% earlier in the day. The steep decline comes as the S 500 and Nasdaq Composite showed more modest movement.

The Canadian tech company and once king of the cell-phone market reported quarterly results that while beating estimates, delivered a disappointing revenue outlook.

BlackBerry projected fiscal 2026 revenue of $504 million to $534 million, falling significantly short of analysts' expectations of $567.3 million. The company's current-quarter revenue estimate of $107 million to $115 million also missed projections, triggering the sharp sell-off.

Source Fool.com