After many attempts to rekindle their stock price Blackberry (TSE:BB BB.to) is onto yet another endeavour of increasing its share in the driver less car market. The one-time smartphone leader has just receiving $40 Million in federal funding to help them as they develop tech to make cars more connected, safer, and ultimately capable of driving themselves. BlackBerry says it will put the federal money toward software development as well as skills training for workers.
BlackBerry(TSE:BB NYSE:BB) is injecting ~$300 Million of its own funds into the initiative. This is expected to create up to 800 jobs over the next decade at BlackBerry’s campus in Ottawa.
2019 seems to have their stock moving in the right direction with 5 out of 7 of this years weeks in the green. That being said here at Htop stockwatch we think that BlackBerry(TSE:BB NYSE:BB) is slightly extended in the short term but overall a solid choice. The recent attention from the federal funding should also help share prices in the coming days.
** We are not currently long TSE:BB but as always the opinions stated are that just opinions, you make and are responsible for your choices and investments, good luck!