BlackBerry (BBRY) has been on the rocks for a long time, but investors are giving the smartphone maker a second chance.
Much of the renewed enthusiasm for the troubled company stems from the appointment of John Chen as CEO. BlackBerry shares are up 50% since Chen was tapped in November. It's also the best performer in the Tech 30 index so far this year. We didn't see that coming.
Chen has a reputation for turning around struggling software company Sybase and eventually selling it to SAP (SAP). Investors seem pleased with his vision for the future. He's focusing on BlackBerry's bread-and-butter enterprise customers, along with software and services.
Of course, Chen has a tough road ahead. Analysts expect BlackBerry to report losses for the next three years.
