In this article, we discuss the 5 worst-performing stocks of Reddit’s WallStreetBets. If you want to read our detailed analysis of these stocks, go directly to the Meme Stock Crash: 10 Worst-Performing Stocks of Reddit’s WallStreetBets.
5. BlackBerry Limited (NYSE: BB)
Number of Hedge Fund Holders: 24
Monthly Decline: 21%
BlackBerry Limited (NYSE: BB) is a Canadian software firm that markets security services to governments and enterprises around the world. It is ranked fifth on our list of 10 worst-performing stocks of Reddit’s WallStreetBets. The company’s shares have plunged by 14% in the past five days. On June 25, investment advisory Canaccord downgraded the stock to Sell from Hold on the back of valuation concerts and quarterly earnings results posted a day earlier that had failed to impress investors.
On June 25, investment advisory TD Securities downgraded BlackBerry Limited (NYSE: BB) stock to Reduce from Hold. Daniel Chan, an analyst at the firm, issued the update and noted the firm had a high valuation compared to fundamental performance.
Out of the hedge funds being tracked by Insider Monkey, Canada-based investment firm Fairfax Financial Holdings is a leading shareholder in BlackBerry Limited (NYSE: BB) with 46 million shares worth more than $392 million.
