Blackberry (BB.US) stock managed to erased early losses and surged 10.0% after the communications software company agreed to sell its non-core legacy patents for $600 million to Catapult IP innovations, a special purpose vehicle formed specifically to buy those patents. Patents primarily relate to mobile devices, messaging, and wireless networks. "Patents that are essential to BlackBerry's current core business operations are excluded from the transaction," the company said Monday. "BlackBerry will receive a license back to the patents being sold, which relate primarily to mobile devices, messaging and wireless networking. This transaction will not impact customers' use of any of BlackBerry's products, solutions or services."
Blackberry (BB.US) stock bounced off the support at $7.50 and is approaching the major resistance zone around $8.42 which coincides with 78.6% Fibonacci retracement of the upward wave launched back in March 2020. Source: xStation5
The Week Ahead
Morning Wrap: A gloomy start to the week amid rising oil prices and turmoil surrounding OpenAI 🚨
US OPEN: Rebound on Wall Street despite higher Supercore inflation and a jump in yields
Oracle earnings: Good, but it could have been better.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.