BlackBerry’s stock shot up well over 10% this morning. Why? A bunch of announcements at the Mobile World Congress in Spain, the biggest two of which were the unveiling of new devices and a new enterprise service.
However, the stock’s gains have since slowly eased up to around 9%, likely due to investors realizing most of the things BlackBerry announced won’t actually be available for several months or more. Still, it’s one of the strongest one-day rallies for the Waterloo-based smartphone maker in recent memory. And after years of mostly bad news, it’s always nice to see Canada’s former tech darling fight back.
The company’s shares are currently trading for just under $12—a far cry from the $140 they traded for at BlackBerry’s peak in 2008 and 2009, but still much better than the $6 they were trading for last year.