Why Is BlackBerry Attracting High Interest From Retail Investors Today?

BlackBerry Limited BB said on Sunday that 13 channel partners, including distributors and value-added integrators, will offer its Jarvis 2.0 testing tool to companies in the Asia Pacific region. 

What Happened: The partners — which include several firms based in South Korea, Japan, China, and India — span sectors such as transportation, medical equipment, and manufacturing, according to a BlackBerry statement. 

“Asia-Pacific is at a tipping point in how it protects infrastructure and industries against growing IoT security threats as digital automation continues to advance,” said Dhiraj Handa, vice president of BlackBerry QNX for the Asia-Pacific region.

See Also: How To Buy BlackBerry (BB) Shares

Why It Matters: Jarvis is a binary software composition analysis and security testing tool designed to detect and list open-source software and software licenses within embedded systems. It can also detect cybersecurity vulnerabilities and exposures.

BlackBerry quoted data from Michigan-based research center Ponemon Institute that indicated 9 out of 10 companies adopting Internet of Things expect to “experience a breach or attack caused by unsecured IoT devices in the next two years.”

The company's stock attracted high interest from retail traders at press time and was the top trending name on Stocktwits.

BlackBerry is considered a meme stock just like AMC Entertainment Holdings Inc AMC and GameStop Corporation GME.

The former mobile telephone manufacturer is set to report fourth-quarter numbers on March 31 after market close. 

In the third quarter, the company reported a revenue of $184 million, beating analyst consensus of $177.25 million.

Price Action: On Friday, BlackBerry shares closed 3% higher at $7.03.

Read Next: Why BlackBerry's Turnaround Hasn't Happened, And 'By All Accounts, It Isn't Likely To': Expert Explains

Photo courtesy: BlackBerry