BlackBerry Limited (NYSE:BB) Is Not a Meme Stock

The BB stock price fluctuated between $10 and $11 throughout the trading session with the volume trading being 16M shares, which represented a negative variation when compared to the three months average volume of 42M shares.

The share price of BlackBerry Limited (NYSE:BB) ran up 8.68% to close Wednesday’s market session at $10.77, higher as compared to yesterday’s close which brings the market valuation of the company to $6.1B.

The 52-week high for the BlackBerry Limited’s shares is $28.77. That puts it -62.57% from that peak but still a 103.49% gain since the share price dropped to a 52-week low of $4.37, while the S&P 500’s share price change was of 35.08%.

What does the trading volume tell us about the BB stock?

During the last trading session, BlackBerry Limited (NYSE:BB) has seen decay in its daily volume. The daily volume was of 42M, while in the last 10 days the average was 8.35M and last three months – 41.94M.
The increasing interest in the BB stock from the investors is helping to drive the stock price up.

Shrinking short interest

The BlackBerry Limited’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 37.06M shares being shorted which translates into 1.76 of a short ratio for BB, while in the previous month the shorted shares were 37.73M.

BlackBerry Limited (NYSE:BB) financials

With a market cap of 6.1B, BlackBerry Limited holds a total cash of $703M that translates into $1.24 per share, while the total debt is of $831M.

The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of -15.50%. The current revenue is of $861M that is $1.53 per share.