BBBY Stock Alert: Nasdaq Delists Bed Bath & Beyond Stock

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  • Shares of Bed Bath & Beyond (NASDAQ:BBBY) stock were delisted from the Nasdaq exchange today.
  • The company is now listed on an OTC exchange, under the ticker BBBYQ.
  • This storied retailer is among many that failed to embrace key changes to the industry in recent years.
BBBY stock - BBBY Stock Alert: Nasdaq Delists Bed Bath & Beyond Stock

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Bed Bath & Beyond (NASDAQ:BBBY) is no more. Shares of BBBY stock stopped trading today, as the company begins its delisting process. Shares did open around 10 cents this morning, up from around 7 cents at the end of yesterday’s session. However, investors are still able to trade their shares on the over-the-counter market, where Bed Bath & Beyond is now listed under the ticker symbol BBBYQ.

Shares of BBBYQ stock are now up 35% for the day, with speculators seemingly still seeing some value in the embattled company. At yesterday’s close, Bed Bath & Beyond’s market capitalization shrunk to around $40 million. At its height, this retail behemoth was valued at approximately $17 billion in early 2014.

That’s quite an incredible drop and signals just how beat down various retailers have been in recent years. As online shopping has outpaced the growth of brick-and-mortar retail, market share dynamics have shifted in what looks to be a permanent fashion.

As we bid adieu to this retailer, let’s dive into what investors should watch from here.

BBBY Stock Is No More

Bed Bath & Beyond isn’t an isolated story in the world of retailers. A number of brick-and-mortar retailers have met similar fates since the pandemic began. Shares of BBBY stock are the outlier, to a significant extent. An impressive meme-stock rally in BBBY stock took shares of this company on a wild ride in 2021. However, as we’ve seen with other retailers, this mania hasn’t been enough to save this particular company.

It’s difficult for investors to swallow what’s amounted to essentially a zero in this stock. Over the past three years, BBBY stock is down more than 99%. That kind of decline doesn’t typically happen, particularly for a company with a brand like Bed Bath & Beyond’s.

That said, BBBYQ will certainly be an interesting stock to watch. I’m sure speculators will continue to pile into this name, looking to play short-term moves in the stock price. Ultimately, any sort of bet on BBBYQ is a bet that the retailer will be able to emerge from Chapter 11 protection with something to show for it. That said, for now, this stock remains far too risky, in my view, for the average investor to consider.

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On the date of publication, Chris MacDonald 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/2023/05/bbby-stock-alert-nasdaq-delists-bed-bath-beyond-stock/.

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