BlackBerry Ltd.'s (BBRY) rally to a two year high in June appears to be over as investors have given back the gains due to competitive threats to the software maker's business, Reuters reported Friday.
The company has pivoted from making handsets to focusing on software. BlackBerry peaked with annual revenue of $20 billion, but the company is not expected to crack $1 billion in revenue this year for the first time since 2004.
BlackBerry shares are down 0.57% to $8.66 in afternoon trading Friday. The stock has fallen 14.5% over the past month, though the stock is still up over 8% year to date.
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