BlackBerry is Reddit's latest meme stock
The stock price has soared in recent days, and AMC has started to rise again. Run on the stock market. After rising 32% and 15% respectively in the past two trading days, the stock price rose by about 7% on Thursday afternoon.
The BlackBerry price hasn't quite hit the heights of a short squeeze back in January, when it reached $28.77, but it has still more than doubled since the start of the year. Trading volume has shot up dramatically as well, from less than 5 million shares on May 24th to more than 346 million on Wednesday.
The r/wallstreetbets subreddit, where the AMC and GameStop pumps largely originated, is full of threads about BlackBerry at the minute. One redditor cited their rewarding experienc
e of working on the BlackBerry factory line as their reason for investing. BlackBerry has shifted its focus to enterprise software and services in recent years, after fading as a smartphone powerhouse.At the same time, AMC is running under another Reddit driver. After announcing a plan to reward small investors with special screenings and free popcorn, its stock price almost doubled on Wednesday. The stock has risen by more than 2,400% from the beginning of the year. After AMC announced its cash out plan, it fell by more than 30% on Thursday, but after the company sold 11.5 million shares within a few hours, the stock price rebounded. At the time of writing, it was trading at $67, a 4% increase from Wednesday.
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