BBBY Stock Alert: Bed Bath & Beyond Plunges Near 30-Year Low


  • Bed Bath & Beyond (BBBY) is in focus again, as renewed volatility strikes BBBY stock.
  • The stock is working on its 11th decline in the last 12 days.
  • That’s even amid reports that the company is planning to make an interest payment on some of its senior notes.
BBBY stock - BBBY Stock Alert: Bed Bath & Beyond Plunges Near 30-Year Low

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Bed Bath & Beyond (NASDAQ:BBBY) has been all over the map over the last 12 months. In particular, 2023 has been a very volatile year for BBBY stock.

Just a few days into the year, shares plunged to a multi-decade low of $1.27. That marked a fall of about 49% in just four trading days. Shares promptly exploded higher by 360% over next several days, fell 64%, then rallied another 234%.

Suddenly, “very volatile” seems like an understatement for BBBY stock. Most of the up-and-down nature has come amid bankruptcy speculation for the struggling retailer.

According to recent Securities and Exchange Commission (SEC) filings, the company is preparing to make interest payments on some of its senior notes. In fact, it’s already been pre-funded with the help of the Bank of New York Mellon (NYSE:BK).

That’s a step in the right direction, but hardly an “all-clear” sign for investors.

What’s Next for BBBY Stock?

Shares gained 92% on Feb. 6. A day later, the stock fell by almost 50%. Since that sudden eruption of volatility, it’s been almost all downhill since.

Down 7% so far on Thursday and assuming it finishes lower, BBBY stock has fallen in 11 of the last 12 sessions. The one “up day” in that stretch was a gain of just 0.56%.

The stock is now at its lowest level since early January, although it has yet to take out those lows. However, it now has investors wondering if the embattled retailer will go on to make new lows, considering how much it has been struggling.

Another aspect to consider is that Carvana (NYSE:CVNA) stock has also been falling amid reports of a potential bankruptcy filing and it will report earnings later tonight. Depending on how the market receives that report, it could have an impact on BBBY stock as well.

According to Fintel, Bed Bath & Beyond has a short interest close to 50%. If speculators decide to bid Carvana higher, it’s possible they could go after BBBY stock next as well.

Regardless of how the stock trades in the short term though, it’s very clear Bed Bath & Beyond is struggling. Investors who takes a position in this name should know that’s a speculative holding at best and the trend doesn’t suggest a favorable long-term outcome.

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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