Currently trading at $9.56, Reddit-favorite intelligent security software company BlackBerry’s (BB) winning streak ended some time ago. And given concerns related to the company’s cybersecurity software flaws and its shaky financials, the question is, is it worth betting on the stock at its current price level? Let’s find out.Canadian software company BlackBerry Limited (NYSE:BB) leverages artificial intelligence and machine learning to offer data privacy and IoT solutions to enterprises and governments worldwide. BB's shares soared to stratospheric heights earlier this year, fueled by the meme stock mania.
However, closing yesterday’s session at $9.56, the stock is trading 66.8% below its 52-week high of $28.77. Furthermore, the stock has retreated 12.3% in price over the past six months and 6% over the past five days. Also, BB is currently trading below its 50-day and 200-day moving averages of $11.31 and $9.91, respectively, which indicates a downtrend.
Although the company’s strategic moves to expand its cybersecurity portfolio and enhance technological and monitoring solutions could position it for future growth, recent news regarding a flaw in its cybersecurity software could make investors anxious about the stock. Furthermore, BB appears to be struggling to stay afloat financially.