BlackBerry Ltd. (BB) Stock Rallies on High Volume following Deal with AWS for Automakers

BlackBerry shares are trading at a 52-week high range after the Canadian tech giant announced a deal with Amazon to introduce a cloud platform for automakers.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here.


Once famous for its keyboard interface mobile phones, BlackBerry Ltd. (BB) is making a move to introduce a new cloud-based platform to support automakers to standardize vehicle data and enhance the deployment of new commercial features. The company has collaborated with the e-commerce potentate Amazon to develop this cloud software.

The news just made it to the market and BlackBerry stock is on a roll. The investors are seeing this deal as a positive as the trading volume continues to surge today. The trading volume is up by 122 million compared to the average volume of 4.4 million.

The stock kicked off the day at $8.36 up from the previous close of $5.87. BB is trading at a new 52-week high range of $9.25. As we write this at 11:09 A.M EST, BB was trading at $9.22 soaring with a bullish momentum of 56.98%.

BlackBerry has turned its core focus towards providing business security and information integration services. This has attracted Amazon’s web services business to work together with BlackBerry to create a new cloud-based platform for automakers.

The new intelligent vehicle data platform called IVY will contract the time to create, deploy, and monetize in-vehicle applications. This cloud service will be available for different brands and models. It will be helpful for the automakers to connect with developers across broader network that will support the swift development of apps and services.

The car manufacturers are more focused on their self-made technology as the competition is increasing worldwide. This is due to data sharing with outside technology providers.

However, the new IVY platform is designed to support and run at the same time with new digital vehicle architectures by General Motors, Volkswagen, and others.

IVY is built on BlackBerry’s QNX that is a vehicle operating system used in more than 175 million cars globally.

The head of BlackBerry Technology Solutions, John Wall stated that there is no standardized system that allows automakers to have access to data. This makes it hard for them to get information for the in-vehicle applications or monetize the data.

BlackBerry and AWS have one objective and that is to set up IVY as a standard platform across the auto industry. Just like; Google and Apple have done for the mobile phone industry with their Android and iOS systems.

AWS anticipates that the BlackBerry-AWS IVY will be installed on the vehicles in 2023. However, both companies have not mentioned which enterprises will be the first to install IVY.


The Chart for Block Inc. (SQ) Stock Is Flashing Mixed Signals

In the first quarter, large investment funds expanded their...

What to Expect When Snap Inc. (SNAP) Reports Quarterly Earnings?

Snapchat, a social media platform owned by Snap Inc....

Getting Sustainable Earnings? Movado Group Inc. (MOV)

Movado Group Inc. (NYSE: MOV), the owner of the...

Future Prospects Brighter For Red Cat Holdings Inc. (RCAT) Stock

The US Army has awarded Red Cat Holdings, Inc....



Don't miss

Healthy Upside Potential: Maxar Technologies Ltd. (MAXR)

In May 25 trading, shares of space business Maxar...

Atkore Inc. (ATKR) stock: Better Than You Think

Atkore Inc. (NYSE:ATKR), a manufacturer of infrastructure, electrical, and...

Provention Bio, Inc. (PRVB) Having a Robust Premarket After Abysmal Thursday

Provention Bio, Inc. (PRVB), a clinical stage biopharmaceutical company,...

Farmmi, Inc. (FAMI) Stock Soaring in Premarket, Here’s the Reason

Farmmi, Inc. (FAMI), a company that processes and sells...

Ulta Beauty Inc. (ULTA) last month performance of -6.16% certainly makes it a sizzling prospect

Ulta Beauty Inc. (NASDAQ: ULTA) open the trading on May 26, 2022, with great promise as it jumped 7.09% to $377.96. During the day,...

The key reasons why Alset EHome International Inc. (AEI) is -95.54% away from 52-week high?

Witnessing the stock’s movement on the chart, on May 26, 2022, Alset EHome International Inc. (NASDAQ: AEI) set off with pace as it heaved...

StoneCo Ltd. (STNE) latest performance of 2.97% is not what was on cards

StoneCo Ltd. (NASDAQ: STNE) established initial surge of 2.97% at $9.71, as the Stock market unbolted on May 26, 2022. During the day, the...


Please enter your comment!
Please enter your name here