Why BlackBerry Stock Was Down 14.3% in September
Shares of Blackberry (TSX: BB) were down 14.3% in September, according to data from S&P Global Market Intelligence. The company, which used to make mobile phones but has recently transitioned to security for internet-connected devices, reported strong earnings and revenue in its recent quarter, but that wasn't enough to stop the sell-off in the stock last month.
BlackBerry used to produce cellphones, but with the iPhone and others disrupting that market in the past decade, the company was forced to transition its business model. It chose security for internet-connected devices, and according to its website, the company secures 500 million endpoints and 195 million vehicles with its technology.
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Source Fool.com
