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Most meme stocks rallied in 2023. However, the meme stock outlook is grim, given the narrative that 2023 was merely a recovery year for high-beta stocks.
In the market, giants often steal the limelight. However, an intriguing narrative exists woven by lesser-known yet promising stocks priced under $10.
Shares of BlackBerry Limited (BB) tumbled after the security software maker's guidance missed estimates because of the six-week strike by workers at the Big Three carmakers earlier this year.
BlackBerry delivered a surprise adjusted profit, but also fell short of revenue estimates in its latest quarter. The company is in the process of separating its IoT business from its core cybersecurity segment.
BlackBerry's (BB) third-quarter performance benefits from solid momentum across Cybersecurity and IoT business units.
Blackberry (TSX:BB) shares moved lower before Thursday's opening bell after the cybersecurity and Internet of Things (IoT) company's sales outlook disappointed investors. For 4Q, Blackberry (TSX:BB) projected revenue in the range of $150 million to $159 million, below analyst estimates of about $210 million.
BlackBerry Limited (BB) Q3 2024 Earnings Call Transcript
Shares of BlackBerry BB, -2.61% fell 1.7% after hours on Wednesday after the security-software maker forecast fourth-quarter sales that were below Wall Street's expectations. The company forecast fourth-quarter revenue of $150 million to $159 million, below FactSet estimates for $185.6 million.
Analysts expect BlackBerry to post yet another quarterly loss at a time when markets shun money-losing firms. BlackBerry's new CEO offers fresh hope, since John Giamatteo has experience in the cybersecurity and IoT automotive industry. BlackBerry's decision to cancel its IoT spinoff may not be fully explained; impact of weak quarterly earnings on stock price discussed.
Looking ahead to 2024, conditions appear to favor a continued rally in the stock market. Inflation keeps falling, the economy remains strong, bond yields are in decline, and the U.S. Federal Reserve could begin lowering interest rates as soon as March.