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Why Is Bed Bath & Beyond (BBBY) Stock Down 19% Today?


  • Bed Bath & Beyond (BBBY) stock is giving up gains from a recent rally.
  • That comes as bankruptcy talk spreads among traders.
  • The company’s shares are also down year-to-date.
BBBY Stock - Why Is Bed Bath & Beyond (BBBY) Stock Down 19% Today?

Source: Prashanth Bala / Shutterstock.com

Bed Bath & Beyond (NASDAQ:BBBY) stock is sliding lower on Thursday as the retailer’s shares come off of a recent meme rally.

This comes after the company’s stock climbed 35.3% higher during normal trading hours yesterday. With that came some 900 million shares changing hands. That’s a massive surge compared to its daily average trading volume of about 99 million shares.

To be clear, that wasn’t the first day that shares of BBBY stock had been rallying. The company’s shares had been on an upward trajectory since the start of the week. That rally saw the company’s shares climbing as much as 65% over the last two days.

And while that may seem like a major rally, investors will want to keep in mind the company’s year-to-date movement. Since the start of the year, shares of BBBY stock have fallen 84.6% as of Thursday morning.

What’s Behind the BBBY Stock Volatility?

Bed Bath & Beyond has been struggling since a disappointing holiday quarter where it failed to keep shelves stocked. That’s seen its shares rise and fall since as talk of an incoming bankruptcy continues to weigh on BBBY shares.

As for Thursday, shares of BBBY stock are down 19.2% this morning as it gives up some of the gains from its latest rally.

Investors looking for more of the most recent stock market news will want to keep reading!

We’ve got all of the hottest stock market coverage traders need to know about on Thursday! That includes what has shares of Tesla (NASDAQ:TSLA), BBBY, and Windtree Therapeutics (NASDAQ:WINT) stock in the news. All of that is ready to go below!

More Thursday Stock Market News

On the date of publication, William White 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 InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-bed-bath-beyond-bbby-stock-down-19-today/.

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