Why Should AMC Have All The Fun? BlackBerry Stock Skyrockets Amid Heightened WSB Interest

Shares of BlackBerry Limited BB rose 14.8% in the regular trading session on Tuesday and further gained 13.7% in the extended session amid increased retail investor interest in the stock.

What Happened: BlackBerry’s shares spiked as the retail investor-driven rally has expanded beyond AMC Entertainment Holdings Inc. AMC and GameStop Corp. GME since last week. The stock has extended gains to a fifth straight day on Tuesday.

The Canada-based tech company’s shares hit a high of $28.77 in late January this year amid an epic short squeeze, but have tanked since then. The stock’s year-to-date gains stand at 51.9%.

BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises.

See Also: How to Buy BlackBerry (BB) Stock

Why It Matters: The stocks that were the focus of retail investors on Reddit earlier this year are riding another wave higher as these investors attempt a new short squeeze.

It was reported on Tuesday that BlackBerry has overtaken GameStop and now emerged as the second-most mentioned stock just behind AMC Entertainment on Reddit’s r/WallStreetBets forum

The retail investor-driven stock rally during the past week has already resulted in year-to-date losses of more than $8 billion for short sellers — those betting for declines in the company’s shares.

Price Action: BlackBerry shares closed 14.8% higher in Tuesday’s regular trading session at $11.56 and further rose almost 13.7% in the after-hours session to $13.14.

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