Another one of the meme stocks to watch this year was Bed Bath & Beyond. One of the most significant moves came at the end of summer, where a mix of highly speculative trading action based on rumors, short interest, and a history of bigger breakouts prompted a move all the way to highs of $30.
November has been a month where Bed Bath & Beyond has worked to streamline its books. It shed over $120 million in debt via a share swap. The company also announced new management appointments, including a new CTO and CMO. Some concerns have risen as the holiday season gets into full swing. Reports from The Wall Street Journal expressed concerns that Bed Bath & Beyond was struggling to attract customers because it couldn’t stock up its US stores.
While the company works to rebuild heading into 2023, investors have taken out bearish bets against it. As of this article, TD Ameritrade’s short float percentage on BBBY stock is around 40.07%.
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