BB Stock Price: BlackBerry Ltd gets jammed as the short squeeze party ends amidst halted stocks

NYSE:BB was one of several stocks to get crushed on Thursday after the short squeeze euphoria from the day before was halted when brokers banned certain companies. BlackBerry lost much of their gains from the day before as the stock tumbled 41.64% to close the trading session at $14.65. It hit a new 52-week high on Wednesday of $28.77. The party may not be over yet though as BlackBerry has climbed back up by over 15% in after-hours trading, as the brokers begin to lift the regulations on trading. 

Unlike other companies like GameStop (NYSE:GMSE), Express Inc (NYSE:EXPR), and AMC (NYSE:AMC), BlackBerry actually has a promising future as CEO John Chen continues to turn this brand around. The well-documented relationship with Amazon (NASDAQ:AMZN) and its AWS cloud services has led to much speculation that Amazon may acquire BlackBerry outright, but nothing has ever come of that. BlackBerry is also working on expanding its presence in the autonomous driving sector in China, as well as with General Motors (NYSE:GM) stateside. BlackBerry also recently sold off some of its mobile phone patents to Huawei as it continues to distance itself from that industry. 

BB Stock Forecast

While those other short squeeze stocks may eventually fall back down to Earth, there is a legitimate reason to believe that BlackBerry can continue to climb, albeit not at these unprecedented rates. Still, of all the companies that have been targeted by r/WallStreetBets, BlackBerry has the strongest legs to stand on and whenever this saga comes to a close, should still be a solid investment moving forward. 

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor. 

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.