''One Giant Amateur Hour''? Here''s Everything You Need To Know About Bed Bath Beyond Stock
Bed Bath Beyond Inc (NASDAQ: BBBY ) stock is falling back to Earth Thursday after staging an impressive rally in recent weeks. Here''s a look back at how it got here, as well as some recent reactions to the move. What Happened: It all started with retail. We can trace the increased interest in the name all the way back to the original meme stock, GameStop Corp (NYSE: GME ). The excitement around the struggling retailer among retail traders really picked up when GameStop chairman Ryan Cohen purchased a stake in Bed Bath Beyond in March. By the end of March, the stock began to slide, trading from nearly $30 per share to as low as $4.38 by July. After finding its footing, the stock began surging again near the beginning of August on no apparent news. Retail favorites GameStop and AMC Entertainment Holdings (NYSE: AMC ) soared alongside the home furnishings company as retail traders highlighted the large short interest in the names across social media platforms. Despite a flurry of downgrades, with one analyst calling the move the "latest meme stock frenzy," the stock continued to trend higher.
''One Giant Amateur Hour''? Here''s Everything You Need To Know About Bed Bath Beyond Stock
Bed Bath Beyond Inc (NASDAQ: BBBY ) stock is falling back to Earth Thursday after staging an impressive rally in recent weeks. Here''s a look back at how it got here, as well as some recent reactions to the move. What Happened: It all started with retail. We can trace the increased interest in the name all the way back to the original meme stock, GameStop Corp (NYSE: GME ). The excitement around the struggling retailer among retail traders really picked up when GameStop chairman Ryan Cohen purchased a stake in Bed Bath Beyond in March. By the end of March, the stock began to slide, trading from nearly $30 per share to as low as $4.38 by July. After finding its footing, the stock began surging again near the beginning of August on no apparent news. Retail favorites GameStop and AMC Entertainment Holdings (NYSE: AMC ) soared alongside the home furnishings company as retail traders highlighted the large short interest in the names across social media platforms. Despite a flurry of downgrades, with one analyst calling the move the "latest meme stock frenzy," the stock continued to trend higher.