Why BBBY Stock is Going Up

Founded in 1971, Bed Bath & Beyond Inc. (BBBY) is a network of domestic retail stores in the USA that's also included among the Fortune 500.

What Is BBBY?

Roller Coaster Rally 

BBBY moved 500% up ($4.5 to $30) just in 3 weeks. Thereafter it fell to $8.5 from the high of $30 with in 5 days.

What Happened

The surge in BBBY Stock is led by a short squeeze rally. Thereafter the stock tumbled followed by a series of negative news. 

What is Short Squeeze

 It happens When short sellers of stock are forced to exit their bearish positions due to a sharp rise in stock prices, which triggers stock prices to shoot up even further. 

Meme Stocks Mania

The Meme Stock phenomenon was started with GameStop and AMC Stocks where investors started to bet on highly shorted stocks. BBBY is the most recent name in meme Mania.

Ryan Cohen’s
$68m U-Turn

GameStop (GME) chairman Ryan Cohen has a 12% stake in BBBY. Ryan sold all of its shares at price during the peak of the rally as per Bloomberg he made $68 million profit.

Stock Tumbled 70% in 5 Days

After the news of Ryan Cohen's exit, the BBBY stock fell ($30 to 8.5%) 70% from the top in just 5 days. 

Is BBBY Set For Rebound

After the recent report that the company has secured new debt financing. The stock is 25% up in pre-market on 24 Aug.

Should You Buy BBBY?

Investing in meme stocks is usually very risky. The popularity of a meme stock on social media, not necessarily the company's performance, determines its worth.

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