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Dear BBBYQ Stock Fans, Mark Your Calendars for Sept. 30


  • Bed Bath & Beyond (BBBYQ) is moving forward with its plans to eliminate all remaining shares.
  • After Sept. 30, 2023, there will no longer be a BBBYQ stock to trade.
  • This means that investors have one week left to sell before the stock falls to $0.
BBBYQ stock - Dear BBBYQ Stock Fans, Mark Your Calendars for Sept. 30

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The end of the line is quickly approaching for Bed Bath & Beyond (OTCMKTS:BBBYQ) stock. Since it declared bankruptcy and delisted from the Nasdaq in April 2023, the home furnishing retailer has been in a slow, painful race to the bottom.

There have been plenty of negative updates over the months since then and very few positive ones. Now BBBYQ stock doesn’t have much further to fall. It’s a good thing, too, as the company is preparing to delete and cancel all remaining shares. In an 8-K form filed with the U.S. Securities and Exchange Commission (SEC) on Sept. 14, Bed Bath & Beyond confirmed that on Sept. 30, its plan to erase the 782,005,210 shares that remain will take effect. When that happens, this meme stock will be no more.

The BBBYQ Stock Doomsday Clock

Smart investors cashed out of BBBYQ stock months ago. Those on the institutional side certainly haven’t stuck around. Recent data from Whale Wisdom shows that over the past quarter, the number of funds holding it has fallen 89%, and the 13F share count has plunged by 98%. Percentage ownership has decreased by almost 100%, and new positions are down by 90%. In fact, the only institutional investing statistic that’s still in the green for Bed Bath & Beyond is the number of closed positions, which has skyrocketed 110%.

No matter how you look at it, it’s clear that investors are jumping ship. That’s absolutely the right course of action. In exactly one week, BBBYQ stock as we know it will cease to exist and will simply be a memory that will likely cost retail investors plenty of money. Per the filing:

“The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan.”

This means that investors who still hold BBBYQ stock for whatever reason have only days left to sell. If they don’t, they will be left holding an empty bag.

Shares have fallen over 34% and currently hover at around $0.11 per share. This volatility is exactly in line with recent predictions that the unstable meme stock would experience significant turbulence ahead of the liquidation process. Now the meme stock’s end is almost here, and investors will likely move to sell before the stock hits $0. It should be noted that shareholders won’t receive any recovery compensation.

This last vestige of Bed Bath & Beyond has hung on for longer than many people expected. But BBBYQ stock’s final days are approaching, and the doomsday clock is only growing louder.

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On the date of publication, Samuel O’Brient 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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/09/dear-bbbyq-stock-fans-mark-your-calendars-for-sept-30/.

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