Why Bed Bath & Beyond Tanked on Tuesday
Even by the standards of an awful day for the stock market, Bed Bath & Beyond's (NASDAQ: BBBY) shares took a real bath on Tuesday. The struggling specialty retailer's stock lost nearly 10% of its value on the back of an analyst's note calling into question the worth of a business unit that has been in the news lately.
That note was written by Bank of America Securities prognosticator Jason Haas, who valued the company's buybuy Baby business at slightly under $250 million. On Friday, citing "people familiar with the matter," The Wall Street Journal broke the news that Bed Bath & Beyond was entertaining interest from potential buybuy Baby acquirers.
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Source Fool.com
