Why Bed Bath & Beyond Rose 5.7% Last Week
Shares of Bed Bath & Beyond (NASDAQ: BBBY) rose 5.7% last week, far outpacing the gains made by the Dow Jones Industrial Average, bolstered by a report a director bought 11,000 shares on the open market for an average price of $27.47 per share.
As one of the original so-called meme stocks that tend to trade more on the basis of social media chatter than business fundamentals, with over 21% of its outstanding shares sold short, Bed Bath & Beyond retains a loyal following among internet traders looking for a short squeeze to occur.
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Source Fool.com
