BlackBerry (NYSE:) is focusing its efforts on becoming a prominent player in security and enterprise software. However, the company’s financials were unimpressive in its last reported quarter. Furthermore, the company’s profit margins are low. Next week, BB will report on its third quarter performance. It is a smart move to grab BB shares in advance of the company’s earnings announcement. Keep reading. Canada’s Waterloo software company BlackBerry Limited, (BB) offers intelligent security software to governments around the world. This smartphone innovator is making a transition and entering the automotive and cybersecurity software markets. Reddit users saw the stock, and pushed BB to new heights.

The stock’s rally in price was however short-lived. The stock has slumped 38.9% over the past six months and 19.7% over the past month to close yesterday’s trading session at $8.60. BB shares have fallen below the 200-day and 50 day moving averages, and are close to their 52 week low. BB shares also have a beta of 1.07, which indicates high volatility.

BB has updated its BlackBerry® Guard 2.0 solution, its managed detection and response (MDR) service, and announced advancements in next-generation automotive cockpits. BB is also a participant in many prominent industry partnerships to grow its business and improve its standing in the sector. But, the company’s prospects were limited by pandemic-driven headwinds. Although strategic actions could help the company position itself for long-term success, insufficient cash flows and bleak profit margins are concerning.

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