Don’t look now, but BlackBerry — you know, the butt of most cell phone jokes — is mounting an impressive comeback. BlackBerry’s stock is up 50 percent on the year and one of the best performers in its sector.
BlackBerry has been written off as dead countless times. The company is often viewed as a relic of a bygone era. Its CEO is a blowhard, not afraid to take spats with the company public. Yet the company is creating value for its shareholders.
In 2014 BlackBerry’s stock is outperforming all its peers. At the beginning of the year, the company’s stock was languishing at $7.44 a share. Yesterday it closed at $11.21. The stock is also up in trading today.
Apple is up just 20 percent on the year. Google? Just 5 percent, although it’s a touch easier for a struggling company to rebound than an established company to double its stock price.