Blackberry Ltd BBRY shares are trading lower by $0.40 at $10.71 — down nearly 4 percent — in Tuesday's session. The issue is nearly $1.00 off its 2.5 high what was made on Friday at $11.53.
Investors are likely following the lead of Raymond James, which downgraded the issue from Outperform to Market Perform.
After a lower open, it attempted to reach the lower-end of Friday's range ($11.07), but came up shy only reaching $10.96, before continuing its move lower. So far, the ensuing decline has taken the issue to $10.63 and is attempting to rebound. That marks the lowest level for the issue since it bottomed on May 22 at $10.42.
Editor Note: A previous version of this article title stated that the Raymond James ratings change was an Upgrade. It was, in fact, a Downgrade.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
