NEW YORK (TheStreet) -- Shares of BlackBerry (BBRY) are up 0.16% to $6.30 in after-hours trading on Monday after the company announced it had signed a deal with Indonesian media company PT Elang Mahkota Teknologi Tbk (EMTK), known as Emtek, to bring video content, applications and services onto the company's messaging app.
The Waterloo, Ontario-based mobile communications company hopes to replicate the popularity of all-in-one social media application WeChat, which is ubiquitous in China.
BlackBerry is also popular in Indonesia, home to 60 million of the company's roughly 90 million worldwide BBM users. BlackBerry is looking beyond Indonesia with the deal, however.
"We also want to make it global," BlackBerry's head of corporate development, James Mackey, told Bloomberg.
The BBM software is not exclusive to BlackBerry handsets and is compatible with both Android and iOS.
BlackBerry stock closed down 5.70% to $6.29 in heavy volume trade on Tuesday, with nearly 6 million shares trading hands as opposed to the stock's average trading volume of 3.84 million shares per day.
Markets across the world are also under extraordinary pressure today in the wake of last week's Brexit vote.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: BBRY
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.