As meme stocks continue to be a force in retail investing, companies such as GameStop and AMC Entertainment have seen their stock prices rise despite poor performance. Bed Bath & Beyond (NASDAQ: BBBY) has also had its share of meme stock status. Is there more to this company than a fan base of retail investors? Or should you steer clear?

Bed Bath & Beyond's price has been all over the place for the past few years. That began with falling sales and an out-of-touch business model, sending the price downward. Activist investors ousted management and installed Mark Tritton as CEO almost three years ago, but after some cautious optimism, the price plunged in March of 2020 along with the rest of the stock market.

The stock rose again as the Bed Bath & Beyond's new store approach looked promising, and then the WallStreetBets phenomenon took off last year. That's when a group of retail investors banded together online to hype the shares in an effort to create a short squeeze for institutional investors that would send the price higher. But over the past year, the stock's performance has suffered once again, hurt by renewed short interest.

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Source Fool.com