BlackBerry may be in even worse shape than previously thought.
The company is poised to burn through nearly $2 billion in cash over the next six months, putting its liquidity at risk, according to Pierre Ferragu, an analyst at Sanford Bernstein. He downgraded the stock to "underperform" and placed a price target of $4.50 after a deeper analysis of the company's quarterly filing. It last traded at $7.73.
The downgrade represents just the latest setback for a company that is facing an increasingly uncertain fate. With mounting losses and no evidence that its newer BlackBerry … Read more