BlackBerry Limited continues to see increased interest from retail investors and has now overtaken AMC Entertainment Holdings Inc. to emerge as the most-mentioned stock on Reddit’s r/WallStreetBets forum.
What Happened: Canada-based tech company BlackBerry had 7,957 mentions on the Reddit forum during the last 24 hours, data from Quiver Quantitative showed.
In comparison, movie theatre chain AMC Entertainment was talked about 7,834 times during the same period. Gaming retailer GameStop Corp. was a distant third, with 2,220 mentions.
The enterprise software solutions company's rise to the top is recent. AMC remains the most-talked-about stock over trailing 7-day and 30-day periods. BlackBerry is the second-most talked-about stock in a trailing 7-day period and the third-most talked-about stock over the past 30 days.
Why It Matters:The Quiver Quantitative data shows that BlackBerry has emerged as a favorite stock of retail investors over the past week. It was reported on Tuesday that BlackBerryovertookGameStop and emerged as the second-most mentioned stock just behind AMC Entertainment on the WallStreetBets forum.
Retail investors are continuing to pile into BlackBerry and other Reddit-favorite stocks as they attempt a new short squeeze.
BlackBerry’s shares hit a high of $28.77 in late January this year amid an epic short squeeze but had dropped significantly since then. The stock has now risen for six straight sessions and its year-to-date gains stand at 130.02%.
Price Action:BlackBerry shares surged 31.9% higher in Wednesday’s regular trading session at $15.25 and further rose almost 3.1% in the after-hours session to $15.72.
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