World News – CA – BlackBerry’s stock rockets are nearing the best day in 17 years after the development deal with Amazon AWS

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shares of BlackBerry Ltd. . The very active trade skyrocketed Tuesday after the security software services company announced it had partnered with Amazon Web Services Inc. Unites. Developed and sold BlackBerry’s intelligent vehicle data platform known as « IVY ». â ????

BlackBerry said the multi-year, global agreement with Amazon. com Inc. . as
AMZN,
1. 54%
With the cloud services business, automakers can use IVY to securely read vehicle sensor data and derive actionable insights from that data.

« This software platform promises to bring an era of invention into the vehicle and create new applications, services and opportunities without compromising customer security or privacy. « said John Chen, BlackBerry chief executive.

BlackBerry share
BB,
62. 36%

BB,
55. 81%
rose 45. 5% in morning trading, the highest closing price since June 2019. The trading volume rose to 77. 2 million shares, already more than 20 times the daily average of 3. 8 million shares.

The stock is also aiming for the second-biggest daily gain since going public in February 1999 and the best day for investors since going public (51). 0% on Dec.. . 23, 2003.

BlackBerry said its IVY platform could use vehicle data to detect driver behavior and dangerous driving conditions or heavy traffic, and then recommend the driver to activate relevant safety driving features.

The company said IVY could allow electric vehicle drivers who share the vehicle’s battery information with third-party charging systems to reserve a charging port and adjust charging times based on the driver. Location and travel plans.

« Data and connectivity are opening new avenues for innovation in the automotive industry, and BlackBerry and AWS share a shared vision to provide automakers and developers with better insights so they can offer new services to consumers. « ???? Said Chen.

BlackBerry stock has now rebounded 33%. 0% since the beginning of the year, while the ETFMG Prime Cyber ​​Security Exchange Traded Fund
CHOP,
1. 38%
has climbed 22. 1% and the S&P 500 index
SPX,
1. 33%
is advanced 13. 4%.

BlackBerry started out as a mobile communications and handheld device company called Research In Motion. The company officially changed its name to BlackBerry effective January. 30, 2013, at the same time as the introduction of the BlackBerry 10 mobile computing platform. The company officially switched from a hardware company to a software and services company in 2017.

As an example of the company’s transformation, the company reported software and services revenue of $ 151 million, or $ 58 million, in the second quarter of 2020. 3% of total sales of 259 million. USD. When the stock rose 51. 0% on Dec.. . 23, 2003 after the company reported third-quarter sales of $ 153. 9 million, of which 56% from handhelds and 9% from software licenses.

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Tomi Kilgore is MarketWatch’s assistant editor for investments and corporate news and is based in New York. You can follow him on Twitter @TomiKilgore.

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BlackBerry Limited, Amazon. com, cloud computing, stocks, Amazon Web Services

World News – CA – BlackBerry’s stock rockets are nearing the best day in 17 years after the development deal with Amazon AWS

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