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BB Stock Alert: What to Know as BlackBerry Plans IPO for IoT Division


  • BlackBerry (BB) stock is on the move after announcing plans for a new IPO.
  • The company intends to hold an IPO for its IoT division in fiscal 2024.
  • This would see BB continue to focus on cybersecurity after the split.
BB Stock - BB Stock Alert: What to Know as BlackBerry Plans IPO for IoT Division

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BlackBerry (NYSE:BB) stock is a hot topic among traders on Thursday as the company plans to launch an initial public offering (IPO) for its Internet of Things (IoT) division.

Investors will note that Blackberry is moving forward with this plan after conducting a strategic review of its business. This will result in its IoT business operating as its own public company while BlackBerry continues to focus on cybersecurity.

John Chen, executive chairman and CEO of BlackBerry, said the following about the IPO plan:

“Both the IoT and Cyber businesses have leading technology and talent and address large and growing market opportunities. This new proposed structure will further increase both their operational agility and ability to focus on delivering exceptional solutions to their customers.”

What This Means for BB Stock

With BlackBerry separating its IoT business with an IPO, investors would have a more clear idea of what their investments entail. That will make it easier for shareholders who are interested in its IoT offerings to invest in that company, and those seeking cybersecurity investments can still hold BB stock.

BlackBerry is planning to move forward with the IoT IPO plans sometime in the first half of its next fiscal year. Investors will note that the company’s current fiscal year will close at the end of February 2024.

BB stock is up slightly as of Thursday morning.

There are even more of the most recent stock market stories ready to go below!

We’ve got all of the hottest stock market coverage that traders need to know about on Thursday! Among that is what’s happening with shares of MaxCyte (NASDAQ:MXCT), Cambium Networks (NASDAQ:CMBM) and Meiwu Technology (NASDAQ:WNW) stock today. All of that news is ready to go at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/10/bb-stock-alert-what-to-know-as-blackberry-plans-ipo-for-iot-division/.

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