Shares of several companies in the broader technology space, including BlackBerry Ltd (NYSE:BB) are trading lower amid overall market weakness following worse-than-expected US inflation data, which has weighed on stocks across sectors.
The 10-year Treasury yield hit an intraday high of 1.592% before dipping to around the 1.551% level. This jump in Treasury yields has also weighed on growth and tech names for the session.
BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises.
See Also: Why AMD Shares Are Falling
BlackBerry has a 52-week high of $28.77 and a 52-week low of $4.84.