Why These 10 Small-Cap Stocks Are Skyrocketing

4. BlackBerry Limited (NYSE:BB)

30-day Return as of January 16, 2024: 34%

BlackBerry Limited (NYSE:BB) rose to $4.14 on January 16, marking a 34% surge in share price from December 16, 2024.

On January 10, analyst firm RBC Capital raised its price target for BlackBerry Limited (NYSE:BB) from $3.25 to $4, while maintaining a sector perform rating on the stock. Cylance, BB’s cybersecurity firm, which has been underperforming for quite some time, has been acquired by Arctic Wolf. The sale of Cylance has led the stock to surge and this is why RBC Capital increased its price target.

RBC Capital believes that the sale of Cylance will bolster the investor’s sentiment in BlackBerry’s (NYSE:BB) shares. In addition to that, Blackberry QNX, an operating system for the embedded systems market, has been performing well and the sale of Cylance will divert attention to BB’s high-performing business.

Since its inception, QNX has deployed its crucial systems in more than 255 million vehicles. The business also serves some of the fastest-growing industries such as the automotive, medical devices, robotics, and commercial vehicles sectors.