Bed Bath and Beyond stock

2022 - 8 - 16

Post cover — Image courtesy of "Mashable"

The Redditors of r/wallstreetbets have made Bed Bath & Beyond into ... (Mashable)

Reddit's new favorite meme stock is doing what meme stocks do: spiking to an unsettling degree. This time the stock symbol riding the r/wallstreetbets ...

[risky $45,000 investment](https://www.reddit.com/r/wallstreetbets/comments/wizna5/i_am_the_guy_who_10xd_a_45k_yolo_in_bbby_the/) in the company. [eyed by analysts](https://mashable.com/article/bots-gamestop-meme-stocks) for allegedly feeding off the activity of social media bots — particularly in the cases of Reddit favs AMC and GameStop. And now [some commentators](https://seekingalpha.com/article/4534815-bed-bath-and-beyond-massive-short-squeeze-is-coming-soon) are predicting a "short squeeze" — a spike in a stock price that occurs when those who have bet against the stock rush to exit their toxic investment by buying the stock in question, thus driving up the price drastically. Naturally, r/wallstreetbets took notice, with one post praising Cohen as " [the meme king](https://www.reddit.com/r/wallstreetbets/comments/t8d51u/chewy_cofounder_ryan_cohen_takes_large_stake_in/)," and saying "Ryan Cohen will never be matched," earning 10,423 Reddit karma points. [made about $700 million from the Gamestop Reddit phenomenon](https://www.cnbc.com/2022/01/27/the-fund-that-made-700-million-on-gamestop-knew-it-was-time-to-sell-after-an-elon-musk-tweet.html), are often the ones who make the most money from meme stocks. The stock saw a brief spike in March, and then about five months of steady decline.

Is Bed Bath & Beyond Stock a Buy? (Motley Fool)

Back in late June, Bed Bath & Beyond (BBBY 24.84%) posted a disastrous first-quarter report and fired its CEO, Mark Tritton. Its stock subsequently sank ...

Meanwhile, its long-term debt -- which rose 17% year over year to $1.38 billion in the first quarter -- still raises concerns that it could become the next J.C. It only had $108 million in cash and equivalents at the end of May, and it's reportedly been seeking out private loans to stay solvent. The company dismissed Tritton in June and named Sue Gove, an independent director on its board, as its interim CEO. At the end of July, 36% of Bed Bath & Beyond's outstanding shares were still being shorted. Unfortunately, Tritton took over just as the COVID-19 pandemic started, and its post-lockdown recovery was brief and But over the past month, its stock more than doubled to about $13.

Bed Bath & Beyond shares jump as much as 78.8% after legendary ... (Fortune)

Shares in Bed Bath & Beyond surged more than 70% on Tuesday as retail investors on social media flocked to the stock after a filing revealed activist ...

Despite the stock rally and a promise of a tripled value in stock price, Bed Bath & Beyond’s internal outlook looks bleak. It needs to refine its turnaround strategy from a very weak financial position and at a time when the market for home furnishings is in the doldrums,” Saunders writes. The company also indicated it was drowning in $3.28 billion in debt with only $107 million cash on hand on its balance sheet. The January short squeeze was primarily triggered by users of the subreddit r/wallstreetbets, an internet forum on the social news website Reddit. 8—a bet that [could have made him $20,000](https://www.reddit.com/r/wallstreetbets/comments/wpy0uv/the_guy_who_took_out_a_27000_loan_for_bbby/), had he not pulled his investment two days later when the stock dipped. The other company in Cohen’s RC Ventures, GameStop, also spiked 5%. He joined GameStop’s board in January 2021, which in part triggered the infamous January meme stock rally. “You see his name [Cohen] associated and it gets the buzz going. The short squeeze in Bed Bath & Beyond shares mirrors what happened in January 2021, when retail traders rallied the price of the company to $53.90. [Chewy](https://fortune.com/company/chewy) and the chairman of [GameStop](https://fortune.com/company/gamestop), bought a 10% stake in Bed Bath & Beyond in March this year and also snapped up call options on 1.67 million shares with a strike price ranging from $60 to $80 expiring in January 2023. [a $27,000 loan](https://www.reddit.com/r/wallstreetbets/comments/wj61rj/took_out_a_27k_loan_went_all_in_on_bbby/) to go all in on Bed Bath & Beyond shares nine days ago on Aug. [filing that triggered the short squeeze](https://bedbathandbeyond.gcs-web.com/static-files/b08a4b0d-b9fd-467e-a69e-0e96c990ff45) revealed Ryan Cohen’s investment fund RC Ventures had maintained his percentage ownership of Bed Bath & Beyond and held on to his bet that the price of shares in the home goods retailer would increase to $80.

Bed Bath & Beyond surges again on Wednesday, continuing August ... (CNBC)

Bed Bath & Beyond has seen big moves on heavy trading volume as Reddit traders appear to have restarted the meme trade.

On Monday, an amended regulatory filing from Cohen's venture capital firm RC Ventures showed that he owned nearly 12% of the shares of Bed Bath & Beyond as of April 21, including positions in distant out-of-the-money call options. Data from Quiver Quantitative shows that Bed Bath & Beyond has been the most mentioned stock on WSB over the past week by far, with roughly five times the post volume of Bed Bath & Beyond is connected to GameStop through Ryan Cohen, the billionaire who serves as GameStop's chairman. "I think everybody got the bug again. Retail investors other traders focus on bidding up stocks that have high short interest, in hopes of creating a squeeze situation where hedge funds who have bet against the stock are forced to close out their positions and push shares even higher. There's a big demand for speculation, and it's back.

Bed Bath & Beyond Stock Soars In Renewed Meme Rally, Cohen ... (TheStreet)

Bed, Bath & Beyond shares powered higher again Wednesday as the meme stock favorite extended gains following a bullish options bet from GameStop GME ...

[to increase BABY sales](https://bedbathandbeyond.gcs-web.com/static-files/08c7cb78-a07c-4b00-9a19-7a2b091d90dd) to more than $1.5 billion over the next three years, [thanks in part to November 2021 marketing deal with Kroger Co](https://www.thestreet.com/.preview/cn02914620a000266e?auth=59f2be63ac909b96becdfef8a15b178f0f96f9fb&nonce=1648212498509). "The simple reality though is that our first quarter's results are not up to our expectations, nor are they reflective of the Company's true potential." ( [KR](https://www.thestreet.com/quote/KR)) . [Stocks Edge Lower, Fed Minutes, Retail Sales, Target, Bed Bath & Beyond In Focus - Five Things To Know](https://www.thestreet.com/markets/stocks-lower-fed-minutes-retail-sales-target-bed-bath-beyond) [announced the exit of CEO Mark Tritton](https://www.thestreet.com/.preview/cn02a4ef779000247c?auth=1660125645:b7ed967fadf8ba885586118ee9fac0e6352ad8f9&nonce=1660039245492) amid push from several activist investors -- including Cohen -- to explore the sale or listing of buybuy Baby. [BBBY](https://www.thestreet.com/quote/BBBY)) shares powered higher again Wednesday as the meme stock favorite extended gains following a bullish options bet from GameStop ( [GME](https://www.thestreet.com/quote/GME)) chairman Ryan Cohen.

Bed Bath & Beyond Jumps 29% As Meme-Stock Traders Snap Up ... (Forbes)

The stock has outpaced the broader market this year thanks to a renewed boost from retail investors on forums like Reddit's WallStreetBets.

Boosted by [retail investors](https://www.forbes.com/sites/sergeiklebnikov/2022/08/08/bed-bath--beyond-surges-nearly-40-as-retail-traders-pile-back-into-meme-stocks/?sh=36f0a0ce6d1e) despite an absence of good news, the company’s stock has jumped 41% so far this year, compared to a 19% loss for the SPDR S&P Retail ETF and a 10% loss for the broader S&P 500 index. After he pushed for change at the company and a turnaround in the business, Bed Bath & Beyond CEO Mark Tritton was The stock has “recently gained the attention of retail traders in the Wall Street Bets Reddit forum again, which gained notoriety during the GameStop saga back in January 2021,” B. She insists that the stock continues to trade at “unrealistic valuations,” though the recent rally could provide the company with a “long-term lifeline” if it raises money from stock sales similar to other meme stocks like GameStop and AMC. [Bed Bath & Beyond Surges Nearly 40% As Retail Traders Pile Back Into Meme Stocks](https://www.forbes.com/sites/sergeiklebnikov/2022/08/08/bed-bath--beyond-surges-nearly-40-as-retail-traders-pile-back-into-meme-stocks/?sh=36f0a0ce6d1e) (Forbes) [Bed Bath & Beyond Stock Jumps Over 20% After New CEO Buys 50,000 Shares](https://www.forbes.com/sites/sergeiklebnikov/2022/07/07/bed-bath-beyond-stock-jumps-over-20-after-new-ceo-buys-50000-shares/?sh=32aaeec6198e) (Forbes) [AMTD Digital May Be The New ‘Perfect Meme Stock,’ Loses $100 Billion In Value In One Day After Rising Over 125%](https://www.forbes.com/sites/sergeiklebnikov/2022/08/03/amtd-digital-may-be-the-new-perfect-meme-stock-loses-70-billion-in-value-in-one-day-after-rising-over-125/) (Forbes) [Meme Stocks Surge Despite Market Selloff: GameStop Trading Halted, AMC Jumps](https://www.forbes.com/sites/sergeiklebnikov/2022/05/12/meme-stocks-surge-despite-market-selloff-gamestop-trading-halted-amc-jumps-15/?sh=189b17181468) (Forbes) Bed Bath & Beyond’s stock rally on Tuesday came even as yet another analyst turned bearish, with a price target of just $5 per share implying over 75% downside from current price levels.