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

• NYSE:BB fell 41.63% on Thursday as the markets recover from Wednesday’s chaos.
• BlackBerry and other stocks get crushed as r/WallStreetBets find themselves locked out of trading.
• BlackBerry actually has legs to stand on even after all of this is over.

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. 

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