BlackBerry Stock (BB) Soars Thanks to an Interesting Interview with QNX Head John Wall

BlackBerry (BB) stock surged higher on Monday following a Wall Street Journal interview with QNX president John Wall. Wall and QNX are both likely names that investors aren’t familiar with. That’s because they both operate under BlackBerry. In fact, the latest interview revealed that QNX operates in a lot of places that traders likely haven’t checked.

In this interview, Wall revealed that many of the major automotive companies utilize QNX’s operating system for their vehicles. This software handles many safety features, such as collision warnings, blind-spot alerts, adaptive cruise control, pedestrian detection, and steering assist. It’s not just the automotive industry that has adopted QNX’s technology. Hospitals use the software for their surgical robots, manufacturers rely on the tech for industrial automation, and it’s also used in the robotics industry.

All of this is to say that QNX has a large effect on the everyday lives of people around the world, and they never know it. However, BlackBerry does. The company has experienced significant revenue growth thanks to QNX, which now accounts for more than 50% of the company’s net sales. Company leaders have been emboldened by this growth and have said to expect more of it.

BlackBerry Stock Movement Today

BlackBerry stock was up 13.1% in premarket trading on Monday, following a 0.37% rally on Friday. The stock has also increased 43.01% year-to-date and 50.97% over the past 12 months.

BB stock trading activity today saw some 3.8 million shares change hands before markets opened, compared to a three-month average daily trading volume of about 10.74 million shares.

Is BlackBerry Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for BlackBerry is Hold, based on one Buy and three Hold ratings over the past three months. With that comes an average BB stock price target of $4.98, representing a potential 8.21% downside for the shares.