BlackBerry Falls After Goldman Sachs Reinstates Sell Rating

BlackBerry Ltd BBRY shares are trading lower by 30 cents (3.2 percent) at $9.14 in Monday's session.

Goldman Sachs has reinstated its Sell rating on the stock with an $8.50 target, and the Street isn't happy.

See Also: Analysis: Auto Business Prospects Not Enough To Breathe Life Back Into BlackBerry

After a lower open, BlackBerry had brief rally to $9.29 before continuing its move lower. So far, it has reached $9.02 and is attempting to rebound. That low comes just under its April 21 low ($9.05) and way above its April 20 low ($8.88).

The stock hasn't closed under $9.00 since April 19, when it ended that session at $8.93.