Former Meme Stock "BB" BlackBerry Skyrockets 270% in March, Trader Long on Position Earns 318% Return

BlockBeats News, June 29th, according to Hyperinsight monitoring, BlackBerry (BB) continues to receive funding enthusiasm, with a nearly 40% increase in the past 7 days, and a total surge of 270% since the early April low. Trading at $11.6 on Hyperliquid, up 3.4% intraday.

A trader with the address starting with 0xa5fd went long 10x on the first day of trading the contract on trade.xyz (now 32 days ago), investing $58,000 to open a position. The current unrealized profit has reached $186,000, with a return of approximately 318%. The average entry price is $8.8, with a position size of $770,000.

Additional information: In recent years, BlackBerry has completed its transition to the software business. Its core product, the QNX real-time operating system, is widely used in smart cars, autonomous driving, and robotics. The recent surge in stock price is mainly attributed to the market revaluing it based on the Physical AI concept, continuous growth in the QNX business, better-than-expected Q1 performance, and raised full-year guidance.

BlackBerry, once a global leader in business smartphones, gained popularity again during the 2021 U.S. "Retail Investors vs. Wall Street" meme craze after its smartphone business declined. There are mixed views on the current rally, with some believing that its fundamentals have improved sufficiently, while others see it as a resurgence of meme stock trading.