Home Technology BlackBerry is Reddit’s latest meme stock | Engadget

BlackBerry is Reddit’s latest meme stock | Engadget

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BlackBerry is Reddit’s latest meme stock | Engadget

Following wild successes with and AMC earlier this 12 months, Reddit speculators have turned to for his or her newest . The share worth was on Thursday afternoon, following positive factors of 32 p.c and 15 p.c over the past two periods.

The BlackBerry worth hasn’t fairly hit the heights of a brief squeeze again in January, when it reached $28.77, however it has nonetheless greater than doubled for the reason that begin of the 12 months. Buying and selling quantity has shot up dramatically as nicely, from lower than 5 million shares on Might twenty fourth to greater than 346 million on Wednesday.

The, the place the AMC and GameStop pumps largely originated, is stuffed with threads about BlackBerry on the minute. One redditor their rewarding expertise of engaged on the BlackBerry manufacturing facility line as their motive for investing. BlackBerry has shifted its focus to enterprise software program and companies in recent times, after fading as a smartphone powerhouse.

In the meantime, AMC is on one other Reddit-driven run. Its share worth nearly doubled Wednesday within the wake of asserting a program to reward small traders with perks like particular screenings and free popcorn. The inventory is up over from the beginning of the 12 months. It sank by over 30 p.c at one level on Thursday after AMC introduced a plan to money in, however the worth bounced again after the corporate 11.5 million shares inside a number of hours. On the time of writing, it is buying and selling at $67, up 4 p.c from Wednesday.

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