What's Going On With BlackBerry Stock Today?

BlackBerry Ltd BB stock is trading higher Tuesday following a meme posted on social media earlier this week.

The Details: BlackBerry shares are up Tuesday after Keith Gill, also known as “Roaring Kitty” on Youtube or X, posted a meme on Monday of a person leaning forward while sitting in a chair, breaking three years of silence. The post suggested that Gill, who’s often credited with kicking off the meme stock mania of 2021, is paying closer attention to markets.

BlackBerry is one of several stocks, including GameStock GME and AMC Entertainment AMC, that began to trade much higher as a result of the social media post.

BlackBerry and other stocks making big moves this week are all heavily shorted and tend to be sought after by retail traders looking for short-squeeze opportunities.

In addition, BlackBerry announced on Tuesday that it has been recognized with the Customers’ Choice designation in the 2024 Gartner Peer Insights “Voice of the Customer”: UEM market for the second year in a row.

The “Voice of the Customer” is a document that synthesizes Gartner Peer Insights’ reviews into insights for IT decision makers.

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“To be honored two years in a row with a Gartner Customers’ Choice distinction for our UEM is in our opinion significant for BlackBerry because it comes directly from the people and organizations we protect,” said BlackBerry Cybersecurity senior vice president and general manager Nathan Jenniges.

“We believe there is no greater reward than commendations by government and enterprise customers, recognizing that our innovative products and support make a difference to productivity – enabling staff to work from anywhere on any device, without risk of compromise.”

BB Price Action: BlackBerry shares were up 15.2%, trading at $3.57 per share at the time of writing, per Benzinga Pro.

Image: Courtesy of BlackBerry.