Datametrex AI Ltd V.DM

BlackBerry surged to a nine-year high Reddit !

[Oden6570]

BlackBerry shares surged to a nine-year high Thursday as Reddit users continued to talk up the cybersecurity company.

 

• Toronto Star
• 4 Jun 2021
•  

BlackBerry shares surged to a nine-year high Thursday as Reddit users continued to talk up the cybersecurity company.

“$BB is built different,” one Reddit user wrote. “Finally Wall Street is giving BlackBerry the recognition and share price it deserves.”

BlackBerry closed trading Thursday at $15.88 (U.S.), up 4.13 per cent. Shares rose 32 per cent on Wednesday and the stock has doubled since May 25, as the Reddit crowd has embraced several individual stocks.

BlackBerry was the secondmost mentioned company on Stocktwits, a popular community of individual investors, over the last 24 hours, trailing only fellow meme stock AMC Entertainment (AMC), Bloomberg reported.

AMC shares were down 17.92 per cent Thursday as the company announced it plans to sell around $800 million in shares though an open market program, and cautioned investors against purchasing them “unless you are prepared to incur the risk of losing all or a substantial portion of your investment.”

BlackBerry stock saw volume of 528 million Wednesday, 121 times its volume on May 24.

BlackBerry made the dominant smartphone until the iPhone came on the scene in 2007.

[TorlifTostorson]

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