Why BlackBerry Stock Jumped 18.4% on Friday
Shares of BlackBerry (NYSE: BB), a provider of security software to enterprises and governments, rallied 18.4% on Friday. The double-digit boost doesn't appear to be related to any news. Instead, the company likely bounced back from its huge decline over the last few weeks along with the rest of the market.
The markets have been in free fall as fears of the spread of COVID-19 continue to grow. Tech stocks like BlackBerry haven't been spared. As of Thursday, March 12, BlackBerry's stock was down more than 37% from its February highs. That was a much steeper decline than the tech-heavy Nasdaq experienced during the same time frame.
Thankfully, all three of the major U.S. stock market indexes came roaring back to life on Friday. The Dow Jones Industrial Average, S&P 500, and Nasdaq all rose more than 9% on the final day of the trading week.
Source Fool.com
