Blackberry Back In Single Digits After Mixed Q1 Report

Blackberry Ltd BBRY shares are trading lower by $1.24 (12 percent) at $9.82 in Friday's session.

Investors are exiting the stock after a mixed Q1 report that revealed an EPS beat of two cents, but came up shy on sales by $20.5 million. The company reaffirmed its 2018 outlook and announced a 31-million share buyback plan.

See Also: BlackBerry Q1 Doesn't Connect With Investors

After a much lower open, Blackberry could only manage a meager 6-cent bounce to $10.27 before continuing its move lower. It has continued to make new lows for the session, with the current one standing at $9.82.

Based on the daily charts, there is no identifiable support in the stock until its May 16 low of $9.65. The prior day, May 15, is the last time it closed under $10.00. when it ended the session at $9.63.