BlackBerry Limited (BB) shares are holding steady during Friday's premarket session after the company announced it's renewing its share buyback program. The cybersecurity and software company said it received approval from the Toronto Stock Exchange to repurchase up to 26.8 million common shares over the next year under a normal course issuer bid (NCIB).
That's about 4.58% of BlackBerry's public float as of April 30, 2026. And here's the key detail: any shares bought back will be canceled, which means existing shareholders get a slightly bigger slice of the pie.
The Buyback Details
The new program kicks off on May 12, 2026, and runs until May 11, 2027, unless BlackBerry buys all the authorized shares first or decides to stop early. The company can purchase shares through the Toronto Stock Exchange, the New York Stock Exchange, and alternative trading systems in both Canada and the U.S. With regulatory approval, it could also do private agreements or exempt issuer bids.
As of April 30, BlackBerry had 586.1 million common shares outstanding, with a public float of 584.8 million. The average daily trading volume on the TSX over the prior six months was about 2.26 million shares, which sets a daily repurchase limit of 563,825 shares (excluding block trades). So the buyback is meaningful but not massive—it's a steady drip, not a fire hose.
What Happened With the Last Buyback
Under its previous program, which started on May 12, 2025, and expires on May 11, 2026, BlackBerry repurchased 18.1 million shares at a weighted average price of $3.85 per share. That's a solid price, given the stock is now trading above $6. So management effectively bought back shares at a discount to today's price—a good sign for shareholders.
The company says it strengthened its balance sheet during fiscal 2026 and expects to generate "meaningful positive operating cash flow" in fiscal 2027. That's a big deal for a company that's been working to turn around its business. BlackBerry also noted that it believes its stock price doesn't fully reflect the company's underlying value and long-term prospects. The buyback gives it flexibility to return capital to shareholders while also offsetting dilution from equity incentive plans.
Of course, the timing and amount of future repurchases will depend on market conditions, regulatory limits, and capital allocation priorities. So don't expect them to buy shares at any price—they'll be opportunistic.
Technical Picture: Stretched but Bullish
BB is pressing the upper end of its 52-week range ($3.12 to $6.24), and at $6.18 it's sitting just below that $6.24 high. That's often a spot where breakouts or quick pullbacks get decided. If buyers can hold strength near the highs, the next move tends to be about whether price can accept above that prior peak rather than immediately fading back into the range.
The trend picture is still clearly bullish: BB is trading 22.3% above its 20-day SMA ($5.11) and more than 50% above its 50-day SMA ($4.08) and 200-day SMA ($4.06). That kind of separation usually signals strong momentum, but it also raises the odds of mean reversion if buyers step away.
Momentum is the main tension right now, with RSI at 79.96—deep in overbought territory since April. RSI measures how stretched the move has become, and readings this high often mean upside can continue, but pullbacks can get sharper if price stops making new highs.
- Key Resistance: $6.24 — the 52-week high from May, acting as the immediate breakout trigger
- Key Support: $5.11 — aligns with the 20-day SMA, a first "trend support" area if momentum cools
Price Action
BlackBerry shares were up 1.25% at $6.17 during premarket trading on Friday. The stock is trading near its 52-week high of $6.24.
