I don't think BlackBerry (BBRY)BBRY will spin off its Messenger application. Instead, it's likely to try and monetize it on its own, much like Facebook will eventually look to do with WhatsApp.
Nevertheless, shares of BlackBerry rallied 8% in Wednesday's after-hours session on this very hope. On Thursday, the stock gave up some of those gains, but still rose by almost 4%.
For most of 2013, I was bearish on BlackBerry. Consider the following:
Feel free to check them if you're curious about why I didn't like BlackBerry then, because many of those arguments are still true today.
It's prudent, however, not to be stubborn.
That's why on Jan. 6, I changed my aggressively bearish mind-set on BlackBerry and wrote, Will BlackBerry Ripen in 2014? At the time, the stock was trading for less than $8, or about 20% below current levels.
So where does the company stand now?
Things are much the same as they were before. The company's new CEO, John Chen, has amped up investors' hopes that the company will right the ship.
Even though BlackBerry missed on both sales and earnings per share estimates in the most recent quarter, Chen has instilled the notion that the company will be profitable by fiscal 2016, although the company is still expected to lose $1.37 per share in fiscal 2014 ending March 2 and $1.10 per share in fiscal 2015.