Why Are BlackBerry Ltd. BlackBerry Ltd. (TSX: BB)(Nasdaq: BBRY) Shares Plunging?

In 2014, few companies have enjoyed as much momentum as BlackBerry Ltd. (TSX: BB)(Nasdaq: BBRY). Under the leadership of new CEO John Chen, the firm has cut costs, sold non-core assets, and zeroed in on its core enterprise customers. So far the results have been very promising, and the shares are up over 50% as a result.
Looking ahead, the future is as bright as ever. BlackBerry has just released its newest enterprise server, BES 12, which should solve a lot of its customers’ problems. And there are other areas where BlackBerry could grow, such as its BBM Messaging service and QNX operating system.
But not everyone is convinced. On Wednesday, BlackBerry shares slumped nearly 4% (as of this writing) after Morgan Stanley analyst James Faucette downgraded the company. He now has a “sell” recommendation, and a $7 price target. (more)

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