BlackBerry CEO: Stock Price Should Be Higher, We Are Looking at M&A
BlackBerry CEO John Chen remains bullish despite an earnings related stock selloff on Friday. Chen also told TheStreet he is looking at making deals this year.
BlackBerry's (BB) stock got taken to the woodshed on Friday despite better than expected earnings.
But CEO John Chen tells TheStreet he remains bullish on the company's prospects. Further, Chen says he is looking to use BlackBerry's $2.3 billion cash hoard to do deals this year.
Chen has done a remarkable job pivoting BlackBerry to a play on the increasingly digital car and a trusted name in security.
Oddly, BlackBerry's stock has cooled off this year, down 12% despite numerous positive signs in the business.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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