HomeIs Blackberry stock a buy today?

Is Blackberry stock a buy today?

We are all well aware of Blackberry’s (NYSE: BB) meme-stock credentials, but will the stock go any higher?

Despite its detractors remaining in full voice, Blackberry stock has performed extremely well in recent weeks, though this is mainly due to the buying pressure generated by Reddit investors.

Now, this rally looks set to continue, and with a small pullback coming today, is now the perfect moment to make your entry?

To help you make a decision, we explain what Blackberry is and the best places to buy it in this handy article.

How & where to buy Blackberry stock online

If you want to buy Blackberry shares quickly, easily and affordably, then there is no better option than using an online stockbroker. These are reliable, low-fee platforms that allow you to control your entire investment portfolio from the comfort of an online interface and/or mobile device.

Here are our analysts’ top two platforms for investing in Blackberry:

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

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Webull

Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.

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What is Blackberry?

Formed in 2010, it was originally one of the world’s largest mobile phone manufacturers.

However, in recent years, it has been shifting its business model towards security software having lost significant market share to other major mobile manufacturers like Samsung and Apple, though questions marks remain against its long-term profitability.

Should I buy Blackberry shares?

That depends on your financial goals and investing strategy. For now, thanks to Reddit traders, the fundamental value of Blackberry is not driving its stock price. Instead, it is performing based on market sentiment and meme culture.

With that in mind, if you are looking to place a speculative bet on a company, Blackberry could well be an option that rewards you thanks to the heavy institutional short positions held against it, and the potential for a short squeeze, just like we have seen with GameStop, AMC, Nokia, and others.

However, always make sure you do your own research, and make sure you recognise that this is a risky investment proposition.

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