What's Going On With BlackBerry Stock Wednesday?
Portfolio Pulse from Adam Eckert
BlackBerry Ltd (NYSE:BB) shares are trading lower amid continued volatility following a surge in retail investor interest earlier this week. Despite the drop, BlackBerry shares are still up more than 10% for the week. The rally was influenced by Keith Gill, known as 'Roaring Kitty,' who posted on social media after a long hiatus. GameStop Corp (NYSE:GME) shares also moved, leading retail traders to target other meme stocks. BlackBerry has a short interest of 7.5%. Additionally, BlackBerry was recognized with the Customers’ Choice designation in the 2024 Gartner Peer Insights ‘Voice of the Customer’: UEM market for the second year in a row.
May 15, 2024 | 4:08 pm
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NEUTRAL IMPACT
BlackBerry shares are experiencing volatility due to retail investor interest, influenced by 'Roaring Kitty.' Despite the drop, shares are up 10% for the week. BlackBerry also received recognition in the Gartner Peer Insights ‘Voice of the Customer’: UEM market.
The stock is experiencing volatility due to retail investor interest and short covering, but the recognition in Gartner Peer Insights is a positive development. The overall impact is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
GameStop shares moved first, influenced by 'Roaring Kitty,' leading retail traders to target other meme stocks. This has contributed to the volatility in BlackBerry shares.
GameStop's movement influenced by 'Roaring Kitty' has led to increased retail trader activity in meme stocks, contributing to the volatility in BlackBerry shares. This is likely to have a positive short-term impact on GME.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50