Why Is Bed Bath & Beyond (BBBY) Stock Up 29% Today?


  • Bed Bath & Beyond (BBBY) stock is rising Wednesday with a meme rally.
  • Investors started that yesterday with heavy trading of BBBY stock.
  • That’s despite ongoing concerns about the state of the business.
BBBY Stock - Why Is Bed Bath & Beyond (BBBY) Stock Up 29% Today?

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Bed Bath & Beyond (NASDAQ:BBBY) stock is on the rise Wednesday as investors continue to send shares higher in a meme rally.

That meme stock rally kicked off yesterday with shares of BBBY stock closing out Tuesday up 22.5%. That also came with heavy trading as some 251 million shares of the stock changed hands. For comparison, the company’s daily average trading volume is closer to 84 million shares.

And while BBBY stock hasn’t reached that average trading volume just yet, it’s off to a strong start. As of pre-market trading on Wednesday, more than 35 million shares of BBBY stock have been traded.

While BBBY stock is seeing this recent rally, there’s no guarantee it’ll last. The company is in a rough state lately after a disappointing holiday quarter. That has investors fearing bankruptcy and even engaged couples are removing it from their registries.

What the Future Holds for BBBY Stock

Unless Bed Bath & Beyond can win back customers and weather a recession, it doesn’t look good for the retail company. While it’s making efforts to improve its business, such as enhancing its baby registry service, it’ll need to do more than that to survive.

BBBY stock is up 28.8% during pre-market trading on Wednesday. However, the stock is down 85.2% year-to-date as of yesterday’s close.

Investors seeking out more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock market coverage traders need to know about on Wednesday! Among that is what has shares of Clearmind Medicine (NASDAQ:CMND) stock up, the biggest pre-market stock movers this morning, and more. You can find all of that at the following links!

More Wednesday 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-up-29-today/.

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