BBBY Stock Price: Bed Bath & Beyond Inc hits two-year high, Trump's COVID-19 may trigger more gains

The entire world is talking about the shocking news that President Donald Trump tested positive for coronavirus. According to the latest reports, the leader of the world's most powerful country is showing mild symptoms. The focus is set to remain on the president's health and those around him.

Trump has been playing down the virus and tried shifting the electoral campaign to other topics. He encouraged Americans to go out and about, touting a strong economy. Many have listened and ignored the threat. However, the president's illness may now refocus minds on the dangers of COVID-19.

How is that related to Bed Bath & Beyond? The retail store company sells products used in homes. If Americans spend more time within their dwellings, they may further purchase the company's products. 

BBBY Stock News

NASDAQ: BBBY is already up thanks to coronavirus-related purchases. Shares leaped earlier in the week after Bed Bath and Beyond reported growth of 89% in digital sales. While it refused to provide guidance – also related to uncertainty related to the disease – investors seem confident.

Revenue hit $2.69 billion, marginal beating estimates of $2.62 million. The GAAP Earnings Per Share smashed projections with $1.75 against only one cent forecast. 

Shares are on the rise once again, defying the downbeat direction in markets. 

At the time of writing, NASDAQ: BBBY hit a fresh two-year high of $20.37, levels last seen in mid-2018. Bed Bath and Beyond has flown well beyond the $15/share range seen early in the week and is nearly double the levels seen early in the summer. 

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