Bed Bath & Beyond Set for Rebound as Meme-Stock Selloff Abates
This article is for subscribers only.
Bed Bath & Beyond Inc. shares climbed as much as 7% in premarket trading on Tuesday as the seller of home goods beloved by retail investors stages a rebound after three days of fierce declines.
As of last close, shares in the firm had fallen 60% since the latest so-called meme-stock rally peaked last Wednesday. The plunge followed the disclosure by the company’s top investor Ryan Cohen that he was selling his stake, while a report that suppliers were restricting or halting shipments after the firm fell behind on payments contributed to the declines.