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The Penny Stock Behind Blockbuster Surges 1,400%: Rise From The Dead Or Mistaken Identity?

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The Penny Stock Behind Blockbuster Surges 1,400%: Rise From The Dead Or Mistaken Identity?

Movie rental chain Blockbuster went bankrupt in 2010 and has been an afterthought thanks to the rise of Netflix Inc (NASDAQ: NFLX).

What Happened: The remaining piece of Blockbuster is having a great week thanks to the rise of several heavily shorted stocks like GameStop Corp (NASDAQ: GME) and AMC Entertainment Holdings Inc (NYSE: AMC).
See also: How to Buy Netflix Stock

BB Liquidating Inc (Pink: BLIAQ), formerly Blockbuster, is a penny stock that has risen more than 1,400% in the last five days. The stock has been mentioned on the Reddit forum WallStreetbets.

Related Link: AMC, National Beverage And 8 More Heavily Shorted Stocks To Watch

Another reason for the rise in the price of BB Liquidating could be mistaken identity. One of the fast-rising stocks has been BlackBerry Ltd (NYSE: BB) with shares up over 50% this week.

When traders type symbol BB into the search bar on brokerages, BB Liquidating could be coming up first. Those who are unaware of BlackBerry and the share price could have mistakenly bought BB Liquidating.

There is currently one Blockbuster store operating in Bend, Oregon.

Price Action: Shares of BB Liquidating were up 181% to 14 cents on Wednesday.

 

Related Articles (BB + BLIAQ)

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