Bed Bath & Beyond Stock Soared Almost 80%
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Shares of Bed Bath (ticker: BBBY) rose as much as 79% on Tuesday for the stock’s second-best intraday gain on record.
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There was no news surrounding the stock’s jump on Tuesday. It’s simply become a favorite of the retail crowd.
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The insane gains for Bed Bath & Bath & Beyond appears to have been triggered by a few red meat items for the enthusiastic meme community
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Bed Bath & Beyond (BBBY) has 50.7% of its public free float in short position.
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About 189 million shares changed hands by midday, more than six times the firm's 30-day moving average volume.
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The stock is up 440% so far this month in a rally that evocative of eye-watering gains in shares of GameStop and AMC Entertainment.
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Bed Bath & Beyond opened lower after B. Riley downgraded the stock to "sell", saying the shares are trading at "unrealistic valuations."
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Despite the stock rally and a promise of a tripled value in stock price, Bed Bath & Beyond’s internal outlook looks bleak.
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Bed Bath & Beyond Stock Soared Almost 80%
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