BlackBerry Limited continues to attract retail investors’ attention, as it has already surpassed AMC Entertainment Holdings Inc. as the most-mentioned company on Reddit’s r/WallStreetBets forum.
What Transpired: According to Quiver Quantitative statistics, the Canadian tech company BlackBerry received 7,957 mentions on the Reddit site in the previous 24 hours.
During the same time period, the movie theater chain AMC Entertainment was mentioned 7,834 times. GameStop Corp. is a video game retailer, With 2,220 occurrences, was a distant third.
The company’s ascension to the top of the corporate software solutions industry is recent. Over the last seven and thirty days, AMC has been the most talked-about stock. BlackBerry is the second-most talked-about stock in the previous 7 days and the third-most talked-about stock in the last 30 days.
Why It’s Important: According to Quiver Quantitative data, BlackBerry has emerged as a favorite stock of retail investors in the last week. On Tuesday, it was revealed that BlackBerry has surpassed GameStop to become the second-most talked stock on the WallStreetBets forum, after only AMC Entertainment.
Small investors are attempting to flock into BlackBerry and other Reddit-favorite stocks in an effort to undercut the market again.
BlackBerry’s stock reached a high of $28.77 in late January this year after an epic short squeeze, but it has since fallen dramatically. The stock has now climbed for six consecutive sessions, with a year-to-date gain of 130.02 percent.
BlackBerry shares jumped 31.9 percent in Wednesday’s regular trading session to $15.25 before rising another 3.1 percent in the after-hours session to $15.72.