BlackBerry (BBRY) Stock Is The Surprising Winner From The Wa BlackBerry (BBRY) Stock Is The Surprising Winner From The WannaCry Attacks
(Not surprising to me or many of the others here!)
https://www.nasdaq.com/article/blackberry-bbry-stock-is-the-surprising-winner-from-the-wannacry-attacks-cm789504 Shares of BlackBerry Limited BBRY are up on Monday as the world fights to recover from the weekend's massive cyber attacks-but how is it that a company that once dominated the smartphone market could be benefiting from a wave of malware hacks that infected at least 200,000 people?
The short answer is that BlackBerry pivoted its business model over the last few years, transitioning into a software company with a focus on cybersecurity. Shares of BlackBerry jumped 4.33% to $9.76 per share in morning trading on Monday. The company is currently a Zacks Rank #3 (Hold).
If you want to know more about what cybersecurity companies are doing well after the weekend's attacks, read here: Here's Why Cybersecurity Stocks (FEYE, PANW, SYMC) Are Soaring Today
WannaCry Woes
BlackBerry might already be ahead of the curve as companies, cybersecurity firms, and technology experts try to stop the "ransomware" attacks-called WannaCry-that reached people in over 150 countries, mostly on Microsoft's MSFT Windows devices over the past few days.
The company once known for its keypad-based smartphone recently partnered with Allied World Assurance AWH in order to further its big push into anti-hacking software and security.
#BlackBerry software is securing the Enterprise of Things so that the Internet of Things can thrive. Here's how: https://t.co/I7CXezU3RXpic.twitter.com/66H9gym0bG
- BlackBerry (@BlackBerry) May 12, 2017
What Makes Healthcare Such an Attractive Target for Cyberattacks? https://t.co/xvBqVknAv3pic.twitter.com/Qi8NevxWCW
- BlackBerry (@BlackBerry) May 13, 2017
In an oddly foreshadowing move, BlackBerry announced last month that its Allied World partnership would bolster its SHIELD security platform, leading to new self-assessment tools that would be available by mid-May.
BlackBerry noted it would be able to "simulate a real-world attack by connecting devices to BlackBerry's test wireless network; carry out unauthenticated attacks against the device to simulate a device being stolen," and more.
BlackBerry's WorkSpaces software boasts the claim that it is able to secure everything at the file level-for all industries and all files. It allows users to access content and share files in a secure manner wherever they are.
The company utilizes Digital Rights Management software, which could prove to be a FTP (File Transfer Protocol) replacement, and gives companies an easy and secure way to transfer big files in the cloud.
Workspace can work on Windows, Apple Inc's AAPL Mac OS and iOS, and Android devices. Blackberry is able to secure files on an individual basis, while the more traditional firewall starts to become obsolete in the cloud-heavy world. The company's cybersecurity platform is also able to work with Microsoft Outlook and Salesforce.com, inc. CRM platforms.
BlackBerry just might have made its shift towards cybersecurity at the perfect time. But could its May release of the new BlackBerry phone weigh the company down?
Will BlackBerry's New Phone Help?
The Waterloo, Ontario-based phone maker debuted its new BlackBerry Keyone phone last week. A recent Wired piece was less than kind to the company's latest smartphone. Much of the backlash around the internet points to BlackBerry's continued use of a physical keyboard, while the rest of the industry abandoned it years ago.
But BlackBerry's new phone isn't all bad. Many reviews have pointed to its great battery life and business-friendly apps. The company's new focus on security is also front and center in its new phone. Keyone comes with a built-in password manager and its powerful DTEK software to keep users protected from security threats without their active involvement.
And the company doesn't even really make its new phone. Chinese company TCL manufactured the Keyone, and it uses Android software throughout the device.