Rebels Edge · Mon, Jun 29, 2026

BlackBerry Is Back… And Wall Street Is Paying Attention

Summary

The hosts discuss geopolitical market risks, upcoming earnings, and stock-specific developments involving Nebius, Nike, and BlackBerry. BlackBerry’s QNX software and recent rally receive a bullish assessment, while Nebius is framed as a watchlist candidate and Nike draws contrasting views on its turnaround prospects.

U.S.–Iran developments are moving markets, while financial-sector earnings are expected to begin in less than two weeks.
The VIX is described as trading mainly around 18–20, indicating roughly 1% daily S&P 500 moves.
A sponsored spotlight says Zsquared was approved for Russell 2000 and 3000 inclusion; Market Rebellion discloses compensated advisory work.
Nebius is highlighted for nearly 700% year-over-year revenue growth and AI infrastructure exposure, although valuation remains a concern.
Pete says he has no current Nebius position and is waiting rather than pursuing the far-out-of-the-money calls discussed.
Nike faces competition, weak China performance, and margin pressure; Jared suggests nostalgia and hypothetical licensing opportunities could support a recovery.
BlackBerry’s rally is attributed to enthusiasm for its QNX secure operating system, with the stock reportedly rising from about $3 in April to over $12 during the discussion.
BlackBerry, Nokia, and Ford are grouped as older names attracting unusual options activity, though Ford’s upward momentum has paused.

NBIS NKE BB NOK F TSLA GM

Full transcript

BlackBerry. When's the last time you heard of that? We're going to tell you why you're going to hear more and more about that in just a few minutes because I'll tell you what, the Back to the Future trade is back on again and it is ripping to the upside. We're going to tell you why in just A FEW SECONDS.
>> [music] [music] >> ALRIGHTY, HERE we go. We got my man Jared with me. It should be a lot of fun. We're going to be a little bit quick. Uh my brother John is in uh parts
unknown probably at this point in time.
I'm going to tell you this. Uh from a macro perspective uh Jared, the one thing that stands out has got to be the US Iran thing. So again, and we've seen this time and time again. Hey, there's a halt, there are attacks and all the rest of it and then something else happens.
So um it is interesting. The markets are moving because of it, but I will also tell you corporate earnings are going to start coming back again all the way to the beginning because we're going to be starting to hear from the financials in less than 2 weeks. So it kicks off again and I think it's going to be strong.
>> Well, you know, I'm curious what you have to say about how that's reflecting in VIX.
>> I got that up right as we talk. You can see right here. What's going on with the volatility index? Yes, it's had some spikes, but basically it's another tight range for the VIX. It's been in this range for a while now. Let's just call it maybe 18. We've been lower, but also up to 20. We've been higher. But that is kind of the tight spot of where we find
ourselves right now. We pulled back a little bit. Last I looked we're trading right there as you can see on that chart, right around 18. So 1% move give or take on the S&P, that's exactly what the VIX is telling us right now. About a 1% move is going to happen within the S&P itself. A lot of times people think it's the Dow and the S and you know, and
the Nasdaq and and else. This is a measure of the S&P 500 and we'll we'll keep a really really close eye on this to see exactly what kind of movement we get.
>> Happy Monday Rebels. Market Rebellion CEO Chief Market Strategist Mark Lepresti here with today's small cap spotlight.
One of the members of our existing small cap spotlight club, Zsquared, this is a data center infrastructure company, announced this morning that they have been approved for inclusion in the Russell 2000 and 3000 indices. This is a big step in the evolution of this
small cap as a growing public company.
It's one to keep an eye on as an eye on as a reminder, we are compensated advisors to this company and we expect to have a lot more to share with you as they have further announcements as they grow in this red hot data center infrastructure space. That's today's small cap spotlight. Pete, back to you.
>> So [clears throat] Pete, tell me about this Nvidea's play that you sent me an email about it. I'm not really sure what's going on. It's a data play.
>> Yes. Yep. I'll tell you what, the data centers, we know how popular they are.
This is a company that's been absolutely crushing it this year. Their revenue year-over-year is only up almost 700%.
So, this is a one of these stocks that's been as high as 299. It's sitting today in the 260s.
We've seen a little bit of options come in here looking for some upside for this thing to maybe get a a little bit of a squeeze even higher, but the AI trade and power, that's what data data centers are and that's what Nvidea's is. It's an unbelievable company and I think it's one that people should always have on their radar. Doesn't mean they have to own it, but they should have it on their
radar. They should have it somewhere in the stocks that they're keeping a close eye on.
>> So we've been hearing a lot about these AI and data plays that are going to be winners and losers. I mean, right now everything looks bullish, but ultimately a lot of these guys are going to disappear. What do you think about this company's outlook in terms of that as as some players start dropping off? Are you long-term bullish on this one or is it
more of a just let's keep an eye on it, play momentum, play UOA when we see it?
What do you think?
>> I think in the long term, yes, this is one of the leaders. So, that's why I'm pretty impressed with what they're able to do and how they do it and it's, you know, but but that doesn't mean that they don't have incredibly high valuations because a lot of these companies do.
And it's because the rapid growth that we are seeing, right? So, you know what? Fundamentally, there are only going to be a few that survive. I don't think everybody can survive, but I think NIBIUS is somewhere in that category. So, I think it's a name that if nothing else keep a close eye on it.
We we do and we see unusual options in here on a fairly frequent basis. So, this is one of those names where I would look at it and say when I see unusual UOA start to hit, it's time for me to pounce back in there.
>> Are you in this one currently?
>> I am not in there currently. I've seen some options in there that are very very interesting, but they are unbelievably far out of the money calls. So, I've got to waiting a little bit on that one. But >> But it's keep keep an eye on it kind of thing. What's going on with Nike?
>> Oh boy, what's what is going on with Nike? Nike, I guess the answer is nothing. They're doing nothing. They can't sell anything. These guys are in They really are in a very bad spot.
They're at the lowest levels they've been in 11 years. I mean, this is a company that used to be, you know, in the forefront. They were the sports company. They aren't anymore. The competition has gotten so much better and they've taken so much from Nike that Nike's really having a problem. They were supposed to get a lot of growth out of China. That didn't happen. Their
margins are really starting to collapse.
That's going to be something bad.
Is there a shot for this stock to maybe get back into the 50s in the, you know, some form of a time frame, maybe.
Uh but I'll tell you what, this is one of those where I think the competition has gotten so stiff, Nike doesn't really have much of an answer for this right now. They just don't seem to be able to catch their footing. I mean, you could tell by that chart, this stock has been going down, down, down, down. I mean, upper left to the lower right, never a good thing. They've got to refocus,
they've got to figure out a way to work in China and get better numbers than they have. Uh the margins collapsing and like I mentioned is something that I think is very, very critical and Nike's got to find their way. They haven't been able to find it yet. I don't have the answers, but I can tell you there is a lot of competition out there right now.
There's some options that go out into the future a little bit that could be pretty interesting, right? I mean, can it get up to over 50 in that short of a time frame? It's not that short, but 6 months, we'll call it. Um maybe, maybe, but there are no guarantees and that's what Nike looks like right now. Somebody who can't give you a guarantee.
>> I think that this one's really interesting. This U of A caught my attention because uh well, the the legacy, the cultural footprint of Nike, you know, it's not what it was in the '90s when every kid had to have Jordans, but uh
but it's it's it's there to reclaim. You know, like people we love nostalgia, we love going back to things that used to be cool and now they're cool again. Uh and you know, the thing that jumped out to me is the the potential for new kinds of licensing agreements. Like, what if what if they're working on a deal with Rockstar Games with uh Grand Theft Auto
6, which is coming out? The entire video game industry is readjusting their release schedule around that one release.
>> Mhm.
>> Why not apparel? You know, it's the it's the same kind of vibe. It's the same kind of, you know, like cultural pulse sort of thing. So, I uh I I get everything you say, but I I might actually be bullish on Nike.
>> Well, the global competition is there, and that's the problem. And people have decided that they are making that decision to go away from Nike, right? I mean, whether you're talking about Hoka's or the Cloud or whatever. I mean, there are so many different competitors that are that never existed 5, 10, 15 years ago, and now, you know, they thought they were going to be king. They
thought they were going over to to China and it was going to be easy. Hey, we're Nike, we're the US, you know, and all the rest of it.
Uh it hasn't been working. It just has not been working. So, that's an issue that they've got to somehow get They've got to become cool again, like you were just mentioning. And as of right now, they're not very cool. They're not They're not cool at all globally, at least, that's for sure.
>> Yeah, it's true. All right. So, uh maybe BlackBerry's already figured out what Nike needs to. What's going on with this Why Why is BlackBerry coming back? I mean, they don't they don't manufacture them anymore. You can't buy a BlackBerry unless I've unless I'm uh I missed something.
>> You're not. No, it's this QNX, and you know, secure operating system is a big deal. People are very, very excited about this. Let's Let's just go back in time just for a moment. April, this was a $3 stock. You get into May, it was a $6 stock. You get into June, right now, we're talking about $11 stock that right now I'm looking at my computer, it's
over 12. So, uh they are turning the corner, and this started very, very early in the year.
You could see it right there. I mean, this is just an explosive move that they've had. And you know, I call it the Back to the Future trade because they were hitting on UOA. Nokia was hitting on UOA. Ford was hitting on UOA. Ford's one of those names, and I put them in the category as well, because you look at a company like Ford, everybody talks
about Tesla. The next one they might talk about is GM. They might talk about, you know, something else, but they don't talk about Ford all that often unless it's earnings or something like that.
So, I put them in the category as well, where we've seen some very, very active and interesting moves to the upside kind of stopped, at least for Ford, but we are not seeing that stopping in BlackBerry. A pause, yes. A move to the upside, even more so. Up 5 and 1/2% today. So, BlackBerry certainly um in a
great, great position, I think, right now, and a lot of companies are are wanting to be a you know, be a part of the whole BlackBerry experience now.
>> Well, you know, I'm glad they're still out there doing their thing. I I I do find it from a software perspective interesting and exciting, and honestly, I hope they get back into making hardware, too. Um cuz they made some of the best stuff around, and uh I I miss physical keyboards. You know, like I'd I'd be all about getting back into something like that with all the power
of a modern smartphone with the form factor, excuse me, of an old BlackBerry.
All right, what's going on with Soursby?
This This story just won't go away.
>> Brendan Soursby has had an issue, and his issue is he gambled, and they wanted to be able to get past that whole thing, and he went to a rehab for gambling and all the rest of the stuff that they've done.
But, the NFL said, "No." They had a supplemental draft all set up, and then they said, "You know what? We're not actually not going to offer that." The NCAA just said, "Absolutely, you know, this is not the right way. This is the you know, the whole Big 12 said, 'We don't like anything about it. We just won't play those games that are against them.'" I mean, everything's been thrown
at this kid. The most recent thing started this weekend when they said, "You know what? Canadian football, what about Canadian football?" The Canadian Football League said, "You know what? We don't want him, either." So, it does show you the power, though, of what we are seeing when these athletes make some of these unfortunate decisions that they make. And you know, gambling is
everywhere now, right? I mean, it never used to be like that, but you can gamble inside a stadium, no one seems to care.
But, if you're a player, the one thing they don't want to see is, "Hey, uh is there any way this guy can do anything to change the outcome of the game and all that kind of stuff?" So, because of that, you know what? There's there's possible action with the NFLPA.
That's still a a possibility, but you know what? CBA violations and all the things that come up when people are talking about this this particular player, um I don't know what he's going to have to do. He's going to probably at least have I mean, based on what we're seeing, sit out a year.
>> [laughter] >> And then what? I mean, does that really change things for for teams? I I don't have a good answer for that, but you know what? Very good quarterback. It's a really unfortunate for him that he made the decision that he did. So, that part's a little bit uh unfortunate for him.
>> So, all right. Uh what's going on with Tampa and the Brewers?
>> Well, it's amazing to me, and I keep pointing this out. I pointed this out a week or so ago, but I mean, just to look at what's going on in the National League and the American League, right? On the National League side of things, the Dodgers have 54 wins already. So, they're 54 and 30. That's their record.
They have 152 different their run differential. How many do they make and how many do they give away? That's amazing. They are the team that probably um is the most amazing team this year, and it's incredible to watch what they've been able to do. Now, the interesting thing about them is Milwaukee is right on their tail. And Milwaukee,
on the other side of things, and they've got a 120 run differential, as well. So, they're playing basically very, very similar. You look at the outcomes of these games and everything. The one thing that's not all that similar, though, is the Dodgers pay
>> Well, folks, it it looks like Pete's uh Pete lost his internet connection. Um So, uh we'll be back tomorrow with John and Pete for the Rebel's Edge at 1:00 p.m. Eastern Time. We'll see you then.
>> Ocean >> [music]

Transcript from the show's YouTube captions; automatic captions may contain errors. Educational content, not investment advice.