Why Bed Bath & Beyond Stock Was Up Again Today？
$3B家居(BBBY.US$ $AMC Entertainment(AMC.US$ $GameStop(GME.US$
For yet another day, Bed Bath & Beyond shares were moving higher on high-volume trading, a sign that the short squeeze remained in effect as nearly 70 million shares changed hands before noon today. Bed Bath & Beyond is one of the most heavily shorted stocks on the market, with 103% of the float sold short as of July 29, according to data from Yahoo! Finance, meaning a large number of investors expect the stock to fall.
For yet another day, Bed Bath & Beyond shares were moving higher on high-volume trading, a sign that the short squeeze remained in effect as nearly 70 million shares changed hands before noon today. Bed Bath & Beyond is one of the most heavily shorted stocks on the market, with 103% of the float sold short as of July 29, according to data from Yahoo! Finance, meaning a large number of investors expect the stock to fall.
It's easy to see why bears have come out against the stock. The retailer is in disarray after firing CEO Mark Tritton, who was brought in from Target in 2019 to turn around the ailing home furnishings company, and its recent results have taken a beating from the shift in consumer spending habits away from home goods. Comparable sales plunged 23% in its most recent quarter, and it reported an adjusted loss of $225 million.
Still, the high short percentage sets the stock up for an extended short squeeze, and that's exactly what traders are doing, touting the rally on message boards like WallStreetBets and StockTwits.
What's also notable about today's gains is that they've come even as fellow meme stocks like GameStop and AMC have pulled back, a sign the meme traders are concentrating their efforts on Bed Bath & Beyond. A week ago, all three stocks were surging.
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razo2 : borrowing at crazy 30% interest as well. I can bet they will borrow at 68 or 90 % as well to short the stock.
hello-chives : Is it a good time to go in now at 15.14?
韭中韭 人上人 hello-chives: Never too late, if you believe it
razo2 hello-chives: my advice wait till ding. yesterday support is USD 13.48
razo2 hello-chives: this rally will continue long to 20 USD with these hedge fund pricks short selling and pump and dump to lose the confidence. we have the army and good management in BBBY now.
71432112 : Is the bbby page? Nope. Byeeeeee
Cpapi101 razo2: I need a loan
Jack Burton : Yes
fatfatfoo101575989 razo2: agree.