BlackBerry Pops on Reddit Mentions

BlackBerry Limited (NYSE:BB) rose Tuesday. BlackBerry has overtaken GameStop (NYSE:GME) and now emerged as the second-most mentioned stock just behind AMC Entertainment (NYSE:AMC) on Reddit’s r/WallStreetBets forum.

Experts from The Motley Fool note that there has been a renewed interest among Redditors about those same stocks. BlackBerry has surged 15%, while GameStop is already up 40% this week. The suddenly increased trading volume and Redditors’ comments underline another meme stock rally.

“With its expertise in AI and endpoint security management,” says the Fool, “it will likely outperform when 5G and electric vehicles become mainstream.

“It is okay,” the site goes on, “to set aside a small sum for speculations. But if you want to build a reserve reliably and consistently, invest in quality stocks that create value in the longer term. It might sound boring and tedious, but it has been tried and tested for years.

It’s a far cry from verdicts from InvestorPlace, which opined recently that the stock was “a lemon,” from which CEO John Chen has been “making lemonade.”

“Chen’s Blackberry,” InvestorPlace concluded, “is a no-growth company that mostly seems to exist to send money flowing to John Chen. He arrived in 2013 after getting Sybase sold for $5.8 billion, a feat once thought impossible after the database company was steamrollered by Oracle.”

BB shares leaped 78 cents, or 7.7%, to $10.85, to begin Tuesday and the month of June.

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