BBBY Stock Forecast: Bed Bath & Beyond slumps as early rally is erased by the closing bell
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NASDAQ:BBBY fell by 9.29% during Tuesday’s trading session.
- Retail traders are still hoping for another BBBY short squeeze.
- AMC, APE, GME all slump as Monday’s gains were erased.
NASDAQ:BBBY could not extend its momentum from Monday’s session, as the home furnishing retailer prepares to deliver its turnaround plan on Wednesday. Shares of BBBY slumped lower by 9.29% on Tuesday and closed the trading day at a price of $12.11. Stocks extended their slide as all three major indices closed lower for the third consecutive day. The fallout from Chairman Powell’s Jackson Hole speech continued, buoyed by new economic data that suggests the US economy might be stronger than we think. Investors are anticipating that the Fed will continue its hawkish stance on lowering inflation. Overall, the Dow Jones dropped by 308 basis points, while the S&P 500 and the NASDAQ fell by 1.10% and 1.12% respectively during the session.
Stay up to speed with hot stocks' news!
Retail traders continue to look for a short squeeze opportunity with Bed Bath and Beyond. Even though GameStop (NYSE:GME) Chairman Ryan Cohen has sold his stake, it seems that meme stock traders continue to have interest. On Tuesday a staggering 106 million shares were traded, which is up from its recent daily average of 39 million shares. Whether another short squeeze happens or not is anyone’s guess, but the sentiment from retail traders cannot be denied.
BBBY stock price
Other meme stocks were falling alongside BBBY on Tuesday, as the entire sector succumbed to the market sell off. Shares of AMC (NYSE:AMC) and APE (NYSE:APE) fell by 2.11% and 14.05% respectively. This brings the ‘true value’ of AMC’s stock down to about $14.47 per share. GameStop was also trading lower as the stock fell by 5.42% which pushed the price below the $30.00 threshold.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:BBBY fell by 9.29% during Tuesday’s trading session.
- Retail traders are still hoping for another BBBY short squeeze.
- AMC, APE, GME all slump as Monday’s gains were erased.
NASDAQ:BBBY could not extend its momentum from Monday’s session, as the home furnishing retailer prepares to deliver its turnaround plan on Wednesday. Shares of BBBY slumped lower by 9.29% on Tuesday and closed the trading day at a price of $12.11. Stocks extended their slide as all three major indices closed lower for the third consecutive day. The fallout from Chairman Powell’s Jackson Hole speech continued, buoyed by new economic data that suggests the US economy might be stronger than we think. Investors are anticipating that the Fed will continue its hawkish stance on lowering inflation. Overall, the Dow Jones dropped by 308 basis points, while the S&P 500 and the NASDAQ fell by 1.10% and 1.12% respectively during the session.
Stay up to speed with hot stocks' news!
Retail traders continue to look for a short squeeze opportunity with Bed Bath and Beyond. Even though GameStop (NYSE:GME) Chairman Ryan Cohen has sold his stake, it seems that meme stock traders continue to have interest. On Tuesday a staggering 106 million shares were traded, which is up from its recent daily average of 39 million shares. Whether another short squeeze happens or not is anyone’s guess, but the sentiment from retail traders cannot be denied.
BBBY stock price
Other meme stocks were falling alongside BBBY on Tuesday, as the entire sector succumbed to the market sell off. Shares of AMC (NYSE:AMC) and APE (NYSE:APE) fell by 2.11% and 14.05% respectively. This brings the ‘true value’ of AMC’s stock down to about $14.47 per share. GameStop was also trading lower as the stock fell by 5.42% which pushed the price below the $30.00 threshold.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.