Why BlackBerry Stock Flopped on Friday
A fairly tepid analyst note helped spur a sell-off of (NYSE: BB) stock on Friday. The company, still working to pivot from its salad days as a pre-smartphone communications device powerhouse, saw its share price erode by more than 5% as a result. That compared unfavorably to the performance of the S 500 (SNPINDEX: ^GSPC), which flatlined on the day.
That prognosticator was Daniel Chan of TD Cowen, who after market close on Thursday resumed his coverage of BlackBerry stock. Unfortunately for the tech company and its investors, he did so with only a neutral recommendation, setting a price target of $5 per share.
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Source Fool.com
