Why BlackBerry Shares Are Getting Hammered Today

BlackBerry Ltd BB shares are trading lower by 9% at $12.74 Wednesday afternoon.

Weakness appears related to overall market weakness as well as investors watching for possible policy shifts this afternoon and the central bank's plan, or not, to handle inflation. Investors are also watching for news on interest rates, as a rise in rates could weigh on growth and technology stocks.

BlackBerry is a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

BlackBerry has a 52-week high of $28.77 and a 52-week low of $4.37.