Swallowing the Red Pill: a journey to the heart of modern misogyny
How shitty are men really? The question hung in the air, invisible but omnipresent, like the smell of a garbage fire from a nearby town. By 2016, a series of catchphrases had come to dominate the chaotic state of gender politics – “male privilege”, “rape culture”, “men’s rights” – but confusion reigned. And in the middle of this confusion, a group of anonymous men retreated to The Red Pill, an online community hosted on Reddit, to revel in their loathing.
The name derives from a scene in the 1999 film The Matrix, in which Laurence Fishburne offers Keanu Reeves a choice: “You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland and I show you how deep the rabbit hole goes.”
The rabbit hole, in this case, is the “reality” that women run the world without taking responsibility for it, and that their male victims are not permitted to complain. This makes The Red Pill a continuous, multi-voiced, up-to-the-minute male complaint nestled at the heart of the so-called manosphere – a network of websites preoccupied with both the men’s rights movement and how to pick up women.
The manosphere’s most hateful opinions tend to generate the most attention – like Roosh V’s notion that it should be legal to rape a woman on private property (a bit of hateful stupidity which he later claimed to be parody). In February, Roosh V attempted to organise a meet-up of like-minded men on the grounds of the provincial legislature in Toronto, but he had to cancel the event when a local band of female boxers threatened to disrupt the event with violence.
But judging The Red Pill by the most extreme statements of its members is, if not unfair, then at least inaccurate. There is plenty of vileness, to be sure – elaborate conspiracy theories formed out of pure misogyny and outright hatred of female independence. But the bulk of the comments are much more muted and, frankly, pathetic.
In the hours upon hours I spent wandering this online neighbourhood, I saw mostly feral boys wandering the digital ruins of exploded masculinity, howling their misery, concocting vast nonsense about women, and craving the tiniest crumb of self-confidence and fellow-feeling. The discussion threads are a mixed bag of rage and curiosity: screeds against feminists, advice on how to masturbate less, theories on why women fantasize about rape, descriptions of arguments with girlfriends, guides to going up to strangers on the street, and, most of all, workout schedules and diet regimes.
Reading The Red Pill, then, offers two possible answers to the question “how shitty are men really?”
The first situates The Red Pill as another toxic technoculture on a spectrum of digital misogyny: on Twitter, any woman who says anything even moderately controversial will receive torrents of direct physical threats as a matter of course. Sites such as 4chan exist mainly to post thousands of revenge porn images without consent. Gamers on Xbox Live will be sexually harassed, inevitably.
The answer to the question of how shitty men are, from this perspective, is “really pretty shitty”.
But an entirely different approach emerges with a slight shift in emphasis: how shitty are men really? That is, how does these men’s behaviour online translate into non-digital life ? The Red Pill poses one of the absolute conundrums of our time: are we our real selves on the internet, or are we not?
The head moderator of The Red Pill goes by the handle Morpheus Manfred, and when he agreed to give me an interview it was only by online chat. Anonymity is sacred; facelessness is the sacrifice it demands. He moderates the community’s 141,966 (and counting) members, and like most of them, describes himself as white, early 30s, male and conservative (he would have preferred Rand Paul to Donald Trump, but he likes Trump’s “watch-it-burn” style).
I ask him what event led him to The Red Pill (his answers have been edited for length).
Morpheus Manfred: Having spent my 20s looking for female companionship, I noticed that the dating game wasn’t what I was taught – what my parents prepared me for, and what I learned from movies. It was stacked against guys, and it was a very unpleasant experience.
Me: Can you give me an example?
Morpheus Manfred: Over the past 10 years, the flakiness of women has gotten worse. You’d meet a girl, hit it off, get her number and agree to a date. And either she’d no-show, or cancel right before. I found myself putting in all this effort for nothing, it was very defeating. It’s not the way courting worked when my parents met.
What I saw in movies – where having a good heart and being yourself is all you need – that’s not what happens now. Good and nice aren’t attractive any more. The manosphere fundamentally became a surrogate father for the life lessons I never got.
We wanted a place where men could discuss masculine topics without facing the same public shaming outcry that happens on social media sites – feminists are quick on the trigger to try to take down anything they consider wrong … Milo Yiannopoulos lost his verified status on Twitter because of his views on masculinity. It’s a big topic that has become taboo in our culture.
Me: But surely there’s a line somewhere. I mean, the real feelings being expressed here are hostility to women.
Morpheus Manfred: We’re accused of misogyny almost daily. I won’t deny that the language is colorful and there’s a lot of emotion expressed by the men on the forum. But [before The Red Pill] there wasn’t really a way for guys to express these feelings.
Let’s say there’s a guy who just says “I hate women” – I think that’s textbook misogyny. We let them say that. Because there’s nowhere else for a man to blow off steam. But they stay, they learn, they vent, they get advice, they get back on the horse. The endgame of our advice isn’t to hate women. It’s to understand them so you can stop being so darn frustrated by them.
Morpheus claims that The Red Pill helped him find a longtime girlfriend, and that The Red Pill is ultimately little more than an online version of locker-room talk.
It’s funny, because Jessica, my editor at the Guardian, had the same idea. Wasn’t The Red Pill just an updated version of locker-room talk? No, I said, it’s nothing like locker-room talk. Well, she asked, what’s locker-room talk like, then?
Locker-room talk goes like this: you say to your friend, my God, did you see the tits on that yoga instructor, and your friend says, it hurts you, doesn’t it, and you say it does, it does, and he says you know I’ve sucked tits like that before, and you say yeah right and he says really and you say who and he says in Brazil and you say of course it would be an unverifiable claim, and he shrugs and you laugh and he laughs.
The quantity of locker-room talk is inversely proportional to familiarity with women. So, as you fall in love, maybe even get married, it no longer becomes feasible to talk with friends about women’s bodies in such specific detail because, say, your friend works for your wife, and you don’t want him thinking about her cleavage when she’s firing him.
But very quickly – mid-30s, really – a new locker-room talk emerges. The new locker-room talk goes like this: you ask your friend what summer programming do you have your daughters in, and your friend says I’m trying to find something with science in it, and you say, yeah, you gotta fight those cultural assumptions about girls and STEM, and he says totally, and you say I’m just trying to do little things like nature walks and trips to the science center, and he says we should go together some time, and you say totally.
And then you’re taking your daughters to the science center and a gorgeous woman walks by, and you look at your friend, and your friend looks at you, and you don’t have to say a thing.
I’m not saying this is the way it should be. Frankly, it’s humiliating for everybody involved. But there is a truth there: if you have a working dick and a working soul, you’d better get used to living with contradictions.
It is exactly this capacity for contradiction that the boys of The Red Pill lack so utterly. Their humourlessness is impressive, given that they mostly post comments about the minutiae of sexual dynamics, which is the substance of almost all comedy.
Under “I fucked up. How to fix?” Red Pill member AspireToBeGreater requested some advice from the group. He had met a girl. She was all smiley during their initial conversation. But then “I horribly botched an attempt to ask her out for drinks because I got nervous. I pulled back and tried to rebuild my frame over a couple weeks.” She was still giving off signs of interest, notably showing him pictures of her dogs. “I have since asked her to get coffee in a much more casual way, she had a legit excuse and I couldn’t read much from her response.” Should he keep pushing?
The Red Pill poses one of the absolute conundrums of our time: are we our real selves on the internet, or are we not?
The replies came to a rapid consensus. A commenter noted: “She’s turned you down twice, which means she’s almost certainly not interested.” Another added: “Most likely she’s just not that into you if she doesn’t even suggest an alternative date.”
The above is a fairly typical post. The Red Pill grinds away at the confusions of contemporary masculinity, both real and imagined. The intellectual foundation of The Red Pill is its glossary – a shared language of complaint and insight. So we have, for example:
Alpha – Socially dominant. Somebody who displays high value, or traits that are sexually attractive to women.
SMV – Sexual Market Value. A shorthand statement for “what you bring to the table”, whether for a one-night stand or for a longer relationship.
HB – Hot Babe (often followed by a ranking on a 1-10 scale).
AF/BB - Alpha Fucks/Beta Bucks. AF/BB, as an idea, is closely related to AWALT (“AllWomen Are Like That”). All women, in this argument, divide men into two types: alpha males they want to fuck, and beta males they use for financial and emotional support in exchange for sex.
Definitions like these run into the dozens. Their primary purpose is clarity, obviously. More than lust or hatred, the boys of The Red Pill hunger for clarity. They desire escape from confusion. They desire a system with which to comprehend desire itself.
Don’t we all?
In real life, I knew a man once who was the exact opposite of The Red Pill in every regard, and he shattered everything that I believed I knew about men.
Never did he say the least inappropriate thing, at least around me. No locker room talk for him. He had graduated from York University, the most politically correct university in Canada, with a minor in women’s studies. He proudly called himself a feminist, and he was called a feminist proudly by others. In his job as the most prominent radio host at the CBC, the national broadcaster, he had become an icon of the new multicultural and egalitarian Toronto.
That man was Jian Ghomeshi, who was on 25 March acquitted in three cases of sexual assault and choking after the testimony of the complainants collapsed.
Before Ghomeshi, I thought I knew more or less how men worked. I thought – it’s embarrassing to say – I thought I was a close observer of people.
I liked Jian; I cannot deny it. We weren’t close – we met during the time in life when you don’t form new friendships so much as respectful allegiances – but he was fun, pleasant.
And yet I remember a lovely spring wedding in Toronto where the guests, mostly media people, sat around bitching and gossiping as media people do. I made some flip remark about Jian dyeing his hair. Then I saw The Face pass over one of the young women at my table.
I would see The Face several times with several different women when the subject of Jian came up – a half-suppressed deflation, a furtive darkening. The other women told me nothing; The Face simply came and went. But at this wedding, the young woman with The Face did not let her suffering fade into the general background; she leaned in and told me the story of how he had said to her “I just want to hate-fuck you to wake you up” while at work.
I certainly remained friendly with Jian after I heard this story. Why? I have no good answer. The best answer I have is that I have been trained not to judge people on the basis of their sexual tastes. That’s my inclination but it’s also been my education. I refrained from judging him, half-consciously.
Throughout Ghomeshi’s trial, as his lawyer Marie Heinen ripped apart the accusers, I found myself recalling a line from Philip Roth’s The Human Stain, set during the halcyon years when America’s biggest problem was the president’s joint taste for cigars and interns.
More than lust or hatred, the boys of The Red Pill hunger for clarity
“I myself dreamed of a mammoth banner,” Roth wrote, “draped dadaistically like a Christo wrapping from one end of the White House to the other and bearing the legend A HUMAN BEING LIVES HERE.”
That phrase should have been draped over the Toronto courtroom. The accusers responded like human beings, so they forgot to tell things to the police. They forgot their Hotmail passwords. They communicated with each other and with Jian. One of them wrote: “You have beautiful hands.” They responded in a way consistent with the inconsistency of human sexuality, caught in the mess of desire and its justification.
Much has been written about how the Ghomeshi trial has revealed various aspects of our culture and society – the failures of the criminal justice system, or the reality of rape culture, or the impotence of fourth-wave feminism. The Ghomeshi trial has revealed nothing. It has only obscured.
“Rape culture” is a nebulous term, but it remains that men who want to treat women as if they are nothing have ample scope to express that desire – online and offline both. Culture, insofar as it is popular, poses the same question over and over: how cool does a guy have to be before he can treat women like they’re nothing?
When Kesha tried to escape her contract with Doctor Luke, the producer whom she claims raped her, the judge gave the ruling which applies to the music industry as a whole in 2016: “My instinct is to do the commercially reasonable thing.”
Kanye West was able proclaim Bill Cosby’s innocence and release The Life of Pablo with the line “I feel like me and Taylor might still have sex / I made that bitch famous.” And it didn’t matter; Kanye was way too cool. It was performance. Or it was subversion. It was something, anyway, that made it totally different than some ordinary guy saying that Taylor Swift was a bitch he made famous and so could have sex with her. A critic for the New Yorker described the Swift line as “a throwaway boast on an otherwise good song”.
The Weeknd is cool enough to treat women like nothing, too, at least for now. Sure, he has videos in which he shoots his girlfriend, and yes, his song Initiation is a hymn to using the promise of social acceptance to gangbang vulnerable young women. But the man is friends with Drake. He won two Grammys, and the same people in Toronto who loathed Ghomeshi cheered on the victory.
Not that this was in any way a new arrangement, the deal by which cool men treat women like they’re nothing. The Rolling Stones? Led Zeppelin and the mudshark?
David Bowie faced rape allegations in the 1980s, but we’ve all forgotten about that. One of his fans, Lori Maddox, has claimed in interviews that she lost her virginity to him after he gave her champagne and hash when she was about to turn 15. But before we ask ourselves what ought to happen to a grown man in a position of power who gave an underage girl drugs and alcohol and then took her virginity, we should just remember that he dressed really neat and wore makeup and stuff. Bowie was Ghomeshi’s idol, the man he most wanted to interview.
A few years before Morpheus Manfred started up The Red Pill, Ghomeshi blurbed the Guy’s Guide to Feminism. He wrote:
“An admirably accessible guide for guys to understand and embrace the other (often more incendiary) F-word. And it’s even funny. Quite remarkable. Everyone knows feminists have no sense of humour!”
Jian appeared on the back of the book alongside Gloria Steinem and the editor of the online feminist site Feministing.
Where are Morpheus and Ghomeshi now? Morpheus is in a long-term relationship, and developing a sense of humour about himself and his project. Ghomeshi is currently awaiting his second trial. Who is really shitty here?
Again to return to the our conundrum: are we our real selves online or off? Is the screen the place where we indulge the fantasies that our offline selves would never dare? Or is the screen where we perform the truth of our being that that world of faces and consequences does not permit?
Among men today, there is violence hidden under the virtue, and virtue hidden under the violence.
The only constant is the hiding.
In The Red Pill’s glossary, you can find those two entries:
Oneitis – When a guy has fallen in love with a woman in the same way a boy loves his mother. He obsesses about her, but she does not reciprocate.
The Unicorn – Mystical creature that doesn’t fucking exist, aka The Girl of Your Dreams.
If you dig through the misogyny and the bravado, the boys of The Red Pill want The One. They are as lost in that pursuit as every generation of men has been before them.
The Red Pill is hatred of women in the context of men who want nothing more than to please women, and who are living in a world with a sexual marketplace they find deeply anxiety-provoking. Briffaut’s Law, another of the key concepts of The Red Pill, encapsulates male powerlessness as an eternal truth: “The female, not the male, determines all the conditions of the animal family. Where the female can derive no benefit from association with the male, no such association takes place.”
But Redpillers are responding to a much more novel and contemporary reality that such biological imperatives: they are responding to women having financial and sexual power over their own lives and bodies. And they haven’t dealt with it yet. The term “manosphere” is really a misnomer. “Not-quite-a-manosphere” would be better.
What the boys of The Red Pill need, in all honesty, is a massive dose of Romantic poetry. They need a dedicated course of treatment in the novels of Jane Austen and Dostoevsky, combined with significant therapy in negative capability.
They need to learn that love is awful, in the both the ancient and modern senses of the world – that love is infinitely more powerful and real than any marketplace, sexual or otherwise.
They need to read Freud, who wrote that every man wants to murder his father and sleep with his mother and that the only way to be civilized is to recognize that everyone is barbaric way down deep inside.
They need to know that desire is a mess, and that everyone suffers from its mess.
Instead of culture, the world offers the boys of The Red Pill contempt. Instead of education, outrage.
But it’s not just the boys of The Red Pill who need to begin again to learn from the fiasco that is men and women. It’s everybody. It’s the whole world.
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BlackBerry (NYSE:BB) stock is taking a beating on Friday despite the company reporting solid earnings for its fiscal first quarter of 2022.
Source: Paul McKinnon/Shutterstock.com
The BlackBerry earnings report saw the company bringing in adjusted losses per share of 5 cents. That’s a negative switch compared to its adjusted earnings per share of 1 cent from the same time last year. However, it was still able to match Wall Street’s estimate for the quarter.
Next up is BlackBerry’s revenue of $174 million. Yet again, this is a drop compared to the company’s revenue of $201 million reported in its fiscal first quarter of 2021. Even so, the company’s revenue is still better than analysts’ estimates of $171.3 million.
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John Chen, executive chairman and CEO of BlackBerry, also spoke during the company’s earnings call. He took time to discuss its outlook for the year, which includes its Internet of Things (IOT) and auto businesses. A segment of that is collected below from The Motely Fool.
“Generally speaking, Q2 appears to be a low point with Q3 improving and Q4 further slow. The impact also looks to be smaller than that of the pandemic last year. So currently, we don’t see a need to change our revenue outlook for the year, but we will continue to assess the impact with our customer, and we’ll update you again next quarter. Just as a reminder, our IoT revenue outlook remains at $180 million to $200 million for the fiscal year.”
BB stock was down 6% as of Friday afternoon ut is up 81% since the start of the year.
There’s plenty of other recent stock market news that investors will want to know about.
Fortunately for them, InvestorPlace has their backs with our extensive coverage of the stock market. That includes loads of recent IPO news. A few examples worth looking into include DiDi IPO plans, as well as the recent Doximity (NYSE:DOCS) and Grove (NASDAQ:GRVI) IPOs. You can learn more about these at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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The post BB Stock: Why Reddit Favorite BlackBerry Is Looking Less Sweet Today appeared first on InvestorPlace.
Can Reddit Save the Faltering Price Action in BlackBerry Stock?
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BB stock lacks momentum, as the share price continues to stagnate and as the charts begin to roll over
By Bret Kenwell, InvestorPlace Contributor Sep 23, 2021, 2:44 pm EDT
The market has been losing momentum lately and so has BlackBerry (NYSE:BB). BB stock has become a favorite among the “Reddit traders,” the short-squeeze traders or whatever else they want to refer to it as.
It’s simple, though. With a few exceptions, stocks like GameStop (NYSE:GME), AMC Entertainment (NYSE:AMC), Aterian (NASDAQ:ATER) and others have been screaming to the upside. Some days there is news to generate the move. Sometimes there is not.
In the case of BB stock, we saw the stock rally from $6.50 in early January to almost $30 by the end of the month, a move of 341%. From the low on May 13 to the high on June 3, we saw BlackBerry surge 162% from $7.70 to just over $20.
Why? There was no real fundamental driver for these moves. The company didn’t report robust earnings or provide an update that generated a substantial shift in the fundamentals to justify such a move. Instead, these phantom short-covering rallies have shown up in dozens of stocks. Can another one save the faltering price action in BlackBerry?
Trading BB Stock
A glance at the chart doesn’t inspire much confidence. For most of the year, BlackBerry has spent its time chopping between $8 on the downside and $12 on the upside. For a cheap stock like this, that’s actually a pretty nice trading range.
Of course, the stock has seen some massive short-squeezes to the upside, even though those moves have been short lived.
However, the recent developments have been less appealing.
After being rejected from the $12 level, BB stock failed to hold its key moving averages, then failed to hold $10. It rolled over on Monday Sept. 20, and is now failing to hold the 50-week moving average.
While there is a layer of uptrend support just below current prices, I wouldn’t bank my life savings on that mark holding. That’s particularly true as so many other key levels failed to do so.
In any regard, the stock is working with a monthly-down rotation so long as it is below the August low of $9.48. Below that mark and it’s hard to be long BB stock. It opens the door for lower prices, specifically to $8, should uptrend support fail.
Should BlackBerry start to squeeze higher, the levels to watch are simple. First, watch the 200-day and the stock’s cluster of key moving averages. Above that puts $12 in play, then the $14 area, where BB stock finds its daily and weekly VWAP measures for those massive spikes.
Short of some type of upward squeeze, BlackBerry is not one that looks very attractive at the moment. Keep an eye on $9.48.
Breaking Down BlackBerry Stock
Not many companies get a second chance at life after getting steamrolled on the first. But that’s what we’re seeing with BlackBerry. The company was sitting atop the smartphone market until Apple (NASDAQ:AAPL) came in like a wrecking ball.
However, BlackBerry was always pretty good with software and security, a niche it has now carved out into a nice business. It licensed off its handset business and is now focused strictly on recurring revenues and software sales. Specifically, it’s generating traction in the auto sector.
Current-year (fiscal 2022) estimates call for a roughly 15% decline in revenue to about $765 million. Analysts also expect a loss for the year. That’s not helping the stock’s lousy technicals.
However, next year should be better (fiscal 2023). Analysts predict a slight profit per share and 25% revenue growth to $940 million. That’s got the $1 billion mark within reach. In fact, the highest estimate among the analyst community is for $1.03 billion.
Should BlackBerry deliver, we could see a nice pop in BB stock.
However, a pop is all that may materialize, because fiscal 2024 is the big wild card. Analysts expect revenue to fall again, back to down to $860 million. If BlackBerry can find a way to stabilize revenue — even keeping it flat year over year — while bolstering its bottom line and cash flow, then the stock may have some real upside potential.
For now, we’re going to let the technicals guide us. While BlackBerry does have some potential here going into fiscal 2023, we’re only one quarter of the way through fiscal 2022.
Without the technicals flashing a bullish sign, it’s hard to be long BB stock. However, watch for a turn in the fundamentals, which could help lead the way to a better technical setup.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
Article printed from InvestorPlace Media, https://investorplace.com/2021/09/can-reddit-save-the-faltering-price-action-in-blackberry-bb-stock/.
©2021 InvestorPlace Media, LLC
BlackBerry is Reddit's latest meme stock
Following wild successes with and AMC earlier this year, Reddit speculators have turned to for their latest . The share price was on Thursday afternoon, following gains of 32 percent and 15 percent over the last two sessions.
The BlackBerry price hasn't quite hit the heights of a short squeeze back in January, when it reached $28.77, but it has still more than doubled since the start of the year. Trading volume has shot up dramatically as well, from less than 5 million shares on May 24th to more than 346 million on Wednesday.
The, where the AMC and GameStop pumps largely originated, is full of threads about BlackBerry at the minute. One redditor their rewarding experience of working on the BlackBerry factory line as their reason for investing. BlackBerry has shifted its focus to enterprise software and services in recent years, after fading as a smartphone powerhouse.
Meanwhile, AMC is on another Reddit-driven run. Its share price almost doubled Wednesday in the wake of announcing a program to reward small investors with perks like special screenings and free popcorn. The stock is up over from the start of the year. It sank by over 30 percent at one point on Thursday after AMC announced a plan to cash in, but the price bounced back after the company 11.5 million shares within a few hours. At the time of writing, it's trading at $67, up four percent from Wednesday.
BlackBerry (TSX:BB)(NYSE:BB) is a Reddit stock that’s been a crowd favourite over at WallStreetBets. The stock spiked and imploded earlier in 2021, enriching the early birds and punishing the chasers who ended up holding the bag.
Over the past few weeks, BlackBerry stock has been heating up again, thanks in part to action in AMC Entertainment, which was the tide that lifted all Reddit stocks.
BlackBerry’s managers are probably scratching their heads over the latest pop, given a lack of highly material company-specific news. And while the bounce may be more sustainable this time around, I think investors would be wise to approach BlackBerry stock with a game plan this time around to lower the risks of being left in tears at the expense of the retail army over at Reddit’s WallStreetBets.
What’s the game plan for investing in BlackBerry stock at this juncture?
BlackBerry is in an odd place right now. Shares are smack in the middle of the 52-week trading range at $17 and change. On the high end is the $32 mark, while the lower end is $8 and change. If the trade sours here, investors could see their investment realistically get cut in half. On the flip side, there’s really no telling just how high the so-called degenerates over at WallStreetBets can send BlackBerry stock flying this time around. They’re not only stronger, with over 10 million degenerates, but they’re also smarter and more coordinated in this second inning of short squeezing.
I wouldn’t dare bet against Reddit’s crowd at this critical crossroads, either via shorts or those pricey short-dated put options. Given the recent action in Reddit stocks, I think the hands of Reddit’s WallStreetBets have strengthened considerably.
What does the recent action in Reddit stocks mean for you?
BlackBerry stock and the broader basket that have followed in the shadows of AMC stock may not be so quick to implode as they did back in January. If I were to place a bet, I’d look for BlackBerry stock to fluctuate wildly between $15 and $20. Undoubtedly, the wildly volatile environment has made the stock a trader’s playground. And the fundamentals don’t seem to matter as much to those looking to make a quick buck off the beloved Canadian smartphone turned enterprise software company.
If you’re looking to buy and hold BlackBerry for years or decades at a time, I’d wait until the stock can flirt with the lower end of the trading range. The patient may be able to punch their ticket in the single digits if the Reddit diamond hands start getting tired into the summer. I don’t think they will, but there’s always a chance that the crowd may start doing a bit of profit-taking, as they “betray” their diamond-handed comrades.
But if you’re a seasoned trader who’s looking to take advantage of the action in Canada’s lone Reddit stock, I wouldn’t at all be against jumping in here, as long as you understand what you could lose (I’d pin the downside risk at around 40-50%). Just make sure you take profits before other investors turn on you, because it’ll be a tough uphill road to recover from a double-digit percentage loss, given BlackBerry stock seems a tad overvalued here.
While BlackBerry is nowhere near as overvalued as AMC (at least in my humble opinion), investors should be mindful that BlackBerry is no longer a deep-value play; it’s a momentum trade, and it’ll probably be this way throughout the summer.
The post BlackBerry (TSX:BB): Is Another Reddit Stock Pop on the Way? appeared first on The Motley Fool Canada.
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BlackBerry gives up 30% gain but notches sixth-straight positive day amid Reddit-fueled volatility
Shares of BlackBerry retreated following an early surge on Thursday and then bounced between gains and losses, continuing a bout of speculative trading that has rolled through financial markets this year.
The stock closed up 4.1% at $15.88 per share. Shares had jumped more than 30% in early trading, building on gains of roughly 32% and 15% in the previous two trading sessions, before pulling back and briefly turning negative.
Blackberry hit $20.17 per share at its highest level on Thursday and $13.56 at the low end.
The dramatic swings come as meme stocks have once again become a major feature of Wall Street following the rapid rise and fall of GameStop earlier this year. Shares of movie theater chain AMCwere also up sharply in premarket trading before the company announced a plan to sell additional stock. The announced share sale took AMC shares lower and also dented the premarket pop in BlackBerry a touch.
The trading volume of BlackBerry has grown exponentially. More than 346 million shares changed hands on Wednesday, compared with volume of less than 5 million on May 24.
BlackBerry was the third-most traded name on Fidelity's platform on Wednesday, with AMC holding the top spot.
Once a household name as a leading smartphone brand, BlackBerry has shifted to cybersecurity in recent years. The company generated just under $1 billion in sales over its past four quarters.
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