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Mary Long and David Meier discuss the 'second acts' of BlackBerry and Garmin, as well as three other stocks in the midst of a turnaround. They explore the challenges and potential comebacks of these companies in the cybersecurity and mobility management markets. Additionally, they analyze ZipRecruiter, Everbridge, and Teladoc, discussing their current turnaround situations and a framework for evaluating such scenarios.
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Quick takeaways
- Blackberry's pivot into cybersecurity came late, facing challenges due to late entry and lack of proper sales force and marketing.
- Garmin's successful second act was achieved by leveraging its expertise in GPS-enabled navigation, expanding product offerings and focusing on returning capital to shareholders.
Deep dives
Blackberry's Second Act: From Mobile Phones to Cybersecurity
Blackberry, once known for its secure mobile communications, has undergone a significant shift from being a mobile phone maker to specializing in enterprise mobility management suites for cybersecurity. The company's pivot into endpoint security, which focuses on securing mobile devices, comes late in the game and faces stiff competition from other cybersecurity providers. While 59% of Blackberry's revenue comes from its cybersecurity portfolio, the company's late entry and lack of proper sales force and marketing make it challenging to achieve a successful turnaround.
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Listen to the best highlights from the podcasts you love and dive into the full episode