BlackBerry Soars 10% On Pentagon Order, Shares Now Up 34% In 2014


BlackBerry has an almost uncanny ability to not die when it’s been written off again and again. Today, the Pentagon has announced that it will install 80,000 BlackBerry handsets on its network by the end of January. According to Fox News, the new phones are part of the Pentagon’s “new mobile program for unclassified work.” BlackBerry’s shares soared 10% in midday trading on the news.

The Pentagon’s faith in BlackBerry gives the company the sort of credibility it needs to retain corporate clients and keep investors interested in its future — that it has one.

Today’s gains pushed BlackBerry temporarily north of the $10 per share mark. The company is trading at the time of writing a hair below that threshold. BlackBerry ended 2013 at $7.44, meaning it is up around 34% so far in 2014.

Given that we are less than a month into the year, that’s somewhat impressive.

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