Bed Bath & Beyond (NASDAQ:BBBY) stock is falling on Wednesday as the company’s recent bankruptcy announcement weighs on shares.
Bed Bath & Beyond announced a voluntary bankruptcy filing earlier this week that has sent shares on a wild ride. This comes as the retail company has struggled for months. It also lines up with predictions from experts that the company was preparing for bankruptcy.
With this news, what little value that’s left of BBBY stock is being eroded even further. There doesn’t seem to be a path forward for the company as it failed to raise the funds needed to continue operations.
What to Do With BBBY Stock
With that knowledge in hand, investors are selling their stakes in the troubled retailer. This has some 19 million shares of BBBY stock changing hands as of Wednesday morning. It’s possible the stock will see a rally in the coming days, but investors should be wary of a potential pump-and-dump as traders manipulate the stock.
Considering that BBBY has fallen into penny stock territory, it’s more than just a risky investment. Traders will want to steer clear of shares as any investment in them will likely sour as the bankruptcy continues.
BBBY stock is down 23.7% during pre-market trading on Wednesday.
Investors can also find more of the most recent stock market news below!
We’ve got all of the latest stock market coverage traders need to know about on Wednesday! That includes everything happening with shares of Tesla (NASDAQ:TSLA), ZyVersa Therapeutics (NASDAQ:ZVSA) and IN8bio (NASDAQ:INAB) stock today. All of that news is ready to go at the following links!
More Wednesday Stock Market News
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On the date of publication, William White did not hold (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.