Why Bed Bath & Beyond Stock Soared This Week
Bed Bath & Beyond (NASDAQ: BBBY) stock rallied this week, rising 30% through Thursday trading compared to a 1.5% increase in the wider market, according to data provided by S&P Global Market Intelligence.
That jump didn't make investors in the struggling retailer whole again. In fact, shares are still down nearly 30% since the start of 2022. But the meme stock continues to see extreme volatility, which this week produced market-trouncing short-term returns.
Bed Bath & Beyond didn't announce any news that might have sent the stock higher. In fact, its last operating update contained plenty of negative signs about the business. Sales dropped by more than 20% in the selling period that ended in late May, helping precipitate a sharp drop in profitability.
Source Fool.com
