New Platform Launch Creates Buzz Around Well-Known Stock

A well-known Canadian tech company made a surprise announcement today, causing shares to rise. Early this morning, the company announced the launch of HaleyTek’s Generic Automotive Platform (GAP), which provides access to a seamless, agile Android Automotive development environment, according to the release.

Shares of BlackBerry Limited (NYSE:BB) rose slightly on the news, closing the day up at $2.28/share (+0.88%). While this move isn’t groundbreaking, we think the technical setup of this stock could be something of interest for those who like to buy dips and/or go against the trend for mean reversion plays!

BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

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