BlackBerry new software strategy has taken off and customers are flooding back to the security model. The now platform free solution allows all cellpones and tables to be part of a hight secure platform enabeling customers to securly use devices. The stockprice has surged over 70% the last 3 months and are heading for another 75% gain over the next 24 months if Citron is correct?
As March was coming to an end, BlackBerry traded below $7. The long-struggling mobile device maker was stuck in the midst of a slow conversion to a software and services company.
Now the stock has a market cap in excess of $6.8 billion, based on a fully diluted share count of 591 million shares. To reach the $20 target of Citron, BlackBerry would reach a market cap of $11.8 billion. Based on net cash of $1.1 billion and the potential Qualcomm (NASDAQ:QCOM) litigation cash of $940 million, the enterprise value dips towards the $9.8-billion level.