Delayed Reaction From Another Poor Report From Blackberry

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Blackberry Ltd. (BBRY) shares are trading lower by $0.22 at $8.98 in Tuesday's session. It has been a wild ride for the issue, as it skyrocketed over $10, reaching $10.20 in premarket trading on a poor earnings report. The company reported a larger than expected Q1 loss of ($0.05) vs. Est of ($0.03) along with lower sales $658M vs. Est. $679.06). What may have sparked the buying frenzy was that the company reported a 150 percent increase in software. technology and licensing sales. The issue retreated from the $10 level and and ended opening lower ($9.08 vs, Monday's close of $9.20) and made one attempt to clear the close peaking at $9.21. So far it has slipped under $9, reaching $8.95 and it struggling to distance itself from the level. Its low from its recent tumble from its May 5 high ($11.09) was made in Monday's session at $8.82.