Why Bed Bath & Beyond Stock Popped and Then Dropped Today
It was a roller coaster day for Bed Bath & Beyond (NASDAQ: BBBY), the struggling home goods retailer. There was some news affecting the stock as it made its interim CEO permanent, but mostly its swing reflects an exaggerated version of movements in the broad market as stocks opened lower on weak earnings reports from Alphabet and Microsoft then moved higher through the morning on a dovish interest rate decision by the Bank of Canada before falling in the afternoon after Secretary of State Antony Blinken said he doesn't see any near-term progress in Iran nuclear talks.
With Bed Bath & Beyond trying to stave off bankruptcy, the stock is highly sensitive to macroeconomic movements.
Source Fool.com
