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TheStreet Open House

BlackBerry Still Attracts Many Investors

Stocks in this article: BBRY AAPL AMZN GOOG TWTR

NEW YORK (The Street) -- At the bottom of an email I received from a successful money manager today were the words, "Sent from my BlackBerry 10 smartphone." This prompted me to see where BlackBerry (BBRY - Get Report) was trading on this first trading day of 2014. Last I looked it was up nearly 4.8% on more than 25 million shares traded on the first trading day of 2014.

The latest headlines include reminders of what CEO John Chen revealed in December 2013, that the company will outsource the building of BBRY's phones to Foxconn Technology in Taiwan, a company that builds devices for a diverse client base like Apple (AAPL) and Amazon.com (AMZN).

It appears to be a desperate step to lower the cost of building hardware, and all manner of professionals, government workers and folks who still are loyal to the brand will continue to prefer what they're used to in a BlackBerry smartphone.

Whether the move to Taiwanese manufacturing saves significantly on expenditures, it's clear that investors are buying into Mr. Chen's vision of where BBRY is going. The following chart provides more evidence, especially when you look at what the stock has done since Mr. Chen's media conference on Friday, Dec. 20.

BBRY Chart

BBRY data by YCharts

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