BBBY Stock Forecast: Bed Bath & Beyond craters after announcing stock sale, store closures

NASDAQ:BBBY fell by 21.30% during Wednesday’s trading session.
Bed Bath and Beyond unveiled its turnaround plan and investors were not impressed.
Meme stocks continued to trade lower in sympathy with Bed Bath and Beyond.

Stocks Reporter FXStreet

NASDAQ:BBBY finally unveiled its turnaround plan that meme stock traders and investors have been waiting for, but the company failed to impress. On Wednesday, shares of BBBY tumbled by 21.30% and closed the trading session at a price of $9.53. Stocks pulled back for the fourth consecutive day to close out August, and Wall Street recorded monthly losses for all three major averages. Further comments from the Fed suggested that interest rates will remain hiked until well into 2023. Overall, the Dow Jones lost a further 280 basis points, the S&P 500 dropped by 0.78%, and the NASDAQ posted a 0.56% loss for the session.

Stay up to speed with hot stocks' news!

Bed Bath and Beyond’s turnaround plan was supposed to reveal cost cutting measures and a potential sale of its Buybuy Baby division. Unfortunately for investors, the store instead announced a stock sale at an unspecified price, store closures, and laying off of staff. The company also hinted at further stock sales in the future, and confirmed that it has secured $375 million in loans. The moves only serve to magnify the financial instability of the company, and investors agreed, given that the stock fell by more than 21% after the announcement.

BBBY stock price

Meme stocks extended their own declines as AMC (NYSE:AMC), APE (NYSE:APE), and GameStop (NYSE:GME) all posted losses on Wednesday. AMC and APE fell by 1.51% and 5.77% respectively, lowering AMC’s true stock value to about $14.02. GameStop sank by a further 3.92% as the stock fell further below the $30.00 price level.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

AUD/USD bulls seem hesitant below 0.7050 ahead of RBA on Tuesday

AUD/USD reverses an Asian session dip on Monday as renewed optimism over Iran diplomacy boosts investor confidence, keeping a lid on the safe-haven US Dollar and supporting the risk-sensitive Aussie. Spot prices, however, remain below the one-month high, touched last Thursday, as bulls wait for the crucial RBA decision before taking fresh positions.

USD/JPY climbs to 158.00 neighborhood as BoJ uncertainty weighs on the JPY

The USD/JPY pair gains some positive traction at the start of a new week, recovering further from Friday's post-Bank of Japan (BoJ) swing low to sub-157.00 levels. The momentum lifts spot prices to the 158.00 neighborhood during the Asian session and seems unaffected by fresh intervention warning from Japan's Finance Minister Satsuki Katayama.

Gold recovers on positive US-Iran headlines

Gold extends its recovery during American trading hours on Monday, supported by falling Oil prices following positive headlines on US-Iran talks. The metal regains ground after hitting a fresh yearly low of $3,870 on Friday and ending October down 6.87%. However, the rebound lacks conviction as the fundamental backdrop continues to raise doubts over a sustained recovery.

Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns

Bitcoin (BTC) braces for the impact of the US midterm elections, just a week after the $6 billion hack from Binance. Historically, congressional elections have negatively affected not just the president’s party but also Bitcoin. In the last 22 midterms, the ruling party has gained House seats only twice, while the three most recent elections coincided with Bitcoin’s bear market bottoms.

Why strong US growth could not stop the bond rally and AI selloff

The US economy grew at a 3.4% annual rate, yet Treasury yields fell and the Nasdaq ended October with its worst monthly performance since March 2025. The market is no longer rewarding capital expenditure simply because it supports growth. Investors are testing whether that expenditure can produce cash flow and returns above the cost of capital.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.