BB stock: Why r/WallStreetBets Is making a bet large on BlackBerry

© source: Shutterstock A BlackBerry (BB) sign out entrance of a corporate office in Silicon Valley, California.

The meme-sters on Reddit's r/WallStreetBets are again on BlackBerry (NYSE:BB) this morning, riding up BB stock more than 10%. Chatter on social media sentiment tracking websites display that the cybersecurity company is running a robust 2nd to AMC enjoyment (NYSE:AMC).

© supplied by InvestorPlace A BlackBerry (BB) sign out front of a company workplace in Silicon Valley, California.

nowadays's circulate follows a 15% profit on Tuesday to $eleven.fifty six, BB inventory's highest share rate in more than two months.

The 12 months begun off with those retail traders pumping up the fee of BlackBerry shares four-fold to a 10-yr high. As has been the case in fresh months, retail buyers are doubtless fueling the beneficial properties on hopes of a short squeeze. About 9% of BB stock, or slightly more than 50 million shares, had been showing as offered short in mid=may additionally.

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Chats Abuzz with BB inventory Sentiment

On stock sentiment tracker site SwaggyStocks.com, BB stock was displaying more than 4,000 mentions on r/WallStreetBets during the past 24 hours, most of it effective. Fellow meme inventory GameStop (NYSE:GME) is attracting lower than a third of that extent.

"This feels like January in all places once more," posted one member of the subreddit, u/hellomynameisyes. an extra, u/SnooFloofs9228 posted "BB has been beaten down mercilessly for months. $100.00 per share will erase this ache from my memory."

in the meantime, if BlackBerry fundamentals are extra your pastime, which you could check out the enterprise's CTO subsequent week when he discusses know-how and approach at the Baird 2021 world purchaser, expertise & features conference. The webcast could be reside on June 9 at 11:25 a.m. eastern, with a replay purchasable on the enterprise's investor relations web site.

On the date of publication, Robert Lakin didn't have (either directly or ultimately) any positions in the securities outlined in this article. The opinions expressed listed here are those of the author, discipline to the InvestorPlace.com Publishing guidelines.

InvestorPlace contributor Robert Lakin is a veteran monetary creator and editor, including previous stints with Bloomberg information and as a buyside equity research editor. His Substack publication, TLV Strategist, covers the Israel company scene.