Amid multiple new signs that BlackBerry’s (NYSE:BB) IVY initiative will be extremely lucrative, I remain very bullish on BB stock.

IVY is the auto-app store that BlackBerry is developing in partnership with Amazon (NASDAQ:AMZN). The company is making significant progress on the project and plans to release meaningful information about it in early January.

What’s more, there are signs that investors and pundits are becoming much more upbeat on BB stock.

More Signs That IVY Will Be Very Successful

General Motors (NYSE:GM) said that it anticipates obtaining $2 billion by selling car “subscription services,” Techcrunch reported on Oct. 8. Moreover, the automaker thinks that the services can generate up to $25 billion annually by 2030, the website stated.

And earlier this month, The Wall Street Journal reported that automakers are “increasingly developing vehicles as digital devices, with the ability to remotely beam new services and features to the car that could make it easier and more fun to use—while notching extra revenue.”

Ford’s (NYSE:F) Doug Field, who worked at Tesla (NASDAQ:TSLA) for five years, cited autonomous-driving systems as one service that drivers will pay a subscription fee for. He added that, “Content absolutely will be a la carte.”

In other words, drivers will be able to order auto subscription services individually, just as an owner of Apple’s (NASDAQ:AAPL) iPhone can buy apps individually from the company’s App Store.

As I’ve stated in the past, IVY will be a leading app store for autos. BlackBerry, with its QNX operating system which currently has a presence in almost 200 million vehicles, is well-positioned to enable automakers and other app developers to sell subscription services to drivers.

BlackBerry Is Making Meaningful Progress on IVY

In a blog post published on Oct. 29, BlackBerry reported that it had “released an Early Access Version of the platform to select ecosystem partners.” The company added that, “Earlier this fall, BlackBerry also released a product demonstration of solutions powered by BlackBerry IVY, focusing on electrification use cases. This demo has been shown to several automotive customers and partners.”

The post also noted that the company had launched the BlackBerry IVY™ Innovation Fund to invest in start-ups that leverage BlackBerry IVY platform insights. Meanwhile, the company has established partnerships with multiple companies that have developed products for vehicles, including Amazon, Berkshire Hathaway’s (NYSE:BRK.A) GEICO, and TELUS Communications.

Also partnering with BlackBerry on IVY are a number of interesting start-ups, including Electra Vehicles, which has developed a product for managing EV batteries, and Ridecell, which has a “platform powering digital transformation and automation for fleet-driven businesses.” Another promising start-up partnering with BlackBerry on IVY is CarIQ which enables “secure vehicle-based payments.”

Importantly for the owners of BB stock, BlackBerry indicated plans to publicly demonstrate IVY at the Consumer Electronics Show (CES)—slated for Jan. 5 to Jan. 8. There’s a good chance that the demonstration –and new information that BlackBerry may release in conjunction with it—will make many investors much more bullish on the company’s shares.

More Bullishness Towards BB Stock

There have been multiple signs recently that investors and pundits are, on the whole, becoming more upbeat on the Canadian company.

First of all, the shares jumped nearly 18% in the month that ended on Nov. 5.

Meanwhile, on Oct. 26, Seeking Alpha published one of its rare upbeat columns on the company’s shares. (Before the Oct. 26 column, the website had published 11 articles whose authors were labeled as “neutral,” “bearish,” or “very bearish” towards BB stock. Prior to Oct. 26, the last article by an author bullish towards the name was published on June 30.) The author of the Seeking Alpha column, Monplanet Capital Management, estimates that the shares are currently worth $23 each.

And although the majority of the articles recently published by InvestorPlace on BlackBerry are negative, two of the website’s authors other than myself have recently been bullish on the company. In his Oct. 22 column, Mark R. Hake, a CFA, wrote that the company’s shares “could be worth up to…$15.22 within two years.” He noted that BlackBerry’s reported “positive free cash flow (FCF) during its fiscal second quarter.” Meanwhile, the headline of David Moadel’s Oct. 26 article proclaimed that, “BlackBerry Has evolved Into a Compelling Cybersecurity Investment.”

Finally, on Oct. 18, TheStreet published an article entitled, “3 Reasons to Buy BlackBerry Stock Now.”

The Bottom Line on BB Stock

IVY, BlackBerry’s auto app store that’s likely to be very lucrative, is progressing well and will soon be publicly unveiled. Meanwhile, investors and pundits seem to be becoming much more upbeat on the company’s shares.

As a result, the stage is set for a big rally of BB stock in the medium term, making BB stock a good buy for most investors.

On the date of publication, Larry Ramer held a long position in BB stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 

Larry has conducted research and written articles on U.S. stocks for 14 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Among his highly successful contrarian picks have been solar stocks, Roku and Snap. You can reach him on StockTwits at @larryramer. Larry began writing columns for InvestorPlace in 2015.