BlackBerry Priv Sells Out At Best Buy And Walmart And Causes Company Stock To Rise

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BY Judith Aparri Dec 14, 2015 10:26 PM EST

BlackBerry Priv, the recently-released phone by Canadian OEM, BlackBerry which runs the famous Android operating system of Google sells out fast more than a month since its release.

CNN Money reported that Best Buy and Walmart had to restock their respective shelves in the past week due to the high volume sales. The news website said the tech firm's stock price BBRY jumped by 7 percent on Dec. 10 to $8.05 in response to the surprising demand of the BlackBerry Priv. On Friday end-of-day, Dec. 11, the stock fell slightly to $7.68 per share.

The new handset has been BlackBerry's hot seller, selling out during its first week of initial Nov. 6 release. The company had a backorder for the Priv and Amazon was out of stock during that time. It could be because of the phone's competitive specs combined with Android running along the company's security software that is lacking in typical Android phones, said iDigital Times.

Yahoo Finance however, reported that despite reports that BlackBerry Priv sells out fast, there are no new predictions about BlackBerry stocks from analyst firm for company stocks, Zacks Consensus Estimate. The firm ranks the Canadian tech firm at $3, meaning, "hold." Zacks advises consumers what company stock to invest.

CEO John Chen said in October: "Anyone who has been watching closely at what I've been trying to do at BlackBerry has surely heard me say that we would not stay in the device business if we were not profitable." He wrote in a blog post that they are doing everything so their devices are profitable.

AT&T was among the first carriers to carry BlackBerry Priv and released the handset on Nov. 6 while Verizon may have it available early 2016.

The rise of the company's stock could continue if the BlackBerry Priv continues to sell out, said TechTimes. BlackBerry users getting the Priv can now access to the wide range of apps from the rich Android ecosystem which increases the handset's appeal while retaining some of the BlackBerry features fans love such a its slide-out keyboard.