Blackberry Stock (BB.T BBRY.Nasdaq): Winner in hiding
The first indicator of problems was the screen kept freezing up. Then there was the displeasure of the spell checker continuously incorrectly correcting me. I was ready to produce my very own home made video of a blackberry being smashed with a hammer, a hit on youtube for sure!
But then John Chen took over. Then John Chen announced he was staying for the long haul. Then, despite a horrific quarterly report outlining the troubles of the Z10 and its dismal sales record, Mr Chen outlined HIS plans for the future of Blackberry. As well, one by one Mr Chen invited and was successful in bringing on board some pretty gifted talent from previous turnaround success stories he handled.
The real kicker for me was when I downloaded the newest version operating system for my Z10…problems seem to have vanished. Spell checker is not so rude, screen never freezes up, and the new features are pretty cool, to say the least.
As per the Nortel comparison: The executive of Nortel were as corrupt as could be. They took the money and ran. They misreported/misrepresented the companies record and cost us billions. I don't see Blackberry doing the same thing.
Not to mention that the stock has been skyrocketing…short sellers are dispersing in droves…Me thinks this is a winner in hiding.
We'll see. I'm pretty tempered by market disappointments of the past, so I'm not rushing in but my eye is on this one.
RM