Due to the sharp increase in interest from retail investors active on the Reddit platform, BlackBerry shares rose $1.49 in regular trading on Tuesday, or 14.8%, to close at $11.56. In after-hours trading, BlackBerry’s stock price rose by $1.34, an increase of 11.59%. In the past 24 hours, BlackBerry is the second-most mentioned stock on the WallStreetBets website of Reddit, with 487 mentions.
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About 10% of Reddit’s posts expressed expectations for BlackBerry’s short-selling, and about 1% of posts believed that BlackBerry’s target stock price could reach $20. Data from MarketBeat shows that short positions account for 9% of BlackBerry’s outstanding equity, which is lower than the 21% of AMC and GameStop.
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