When I wrote here a while back that Blackberry was doomed, I hadn’t imagined that the death sentence would come so quickly. The stock yesterday embarked on the long road to oblivion with a plunge that shaved its valuation by 12% in just a few hours. (This happened off a bull-trap opening, incidentally, and won’t it be interesting to see who all got to sell shares at Tuesday’s fleeting, clumsily engineered short-squeeze peak?)
It might have been worse but for the fact that the company announced it was putting itself up for sale, not going out of business. We wish the buyer well, assuming one can be found. Come to think of it, Microsoft has been a major backer, and acquiring BBRY would seem to fit perfectly with the Redmond giant’s habit of buying companies that fail.