Why Bed Bath & Beyond, GameStop, and Sundial Growers Rose Today
Meme stocks including GameStop (NYSE: GME), Bed Bath & Beyond (NASDAQ: BBBY), and Canadian cannabis company Sundial Growers (NASDAQ: SNDL) continue to march higher. Each of those stocks have jumped more than 20% over the last month. The moves higher continued today, though the stocks are off early session highs. Bed Bath & Beyond shares were up almost 10% early, Sundial shares were 6% higher, and GameStop was up about 4%. As of 10:15 a.m. EDT, each had pared their gains, leaving them up between just 1% and 3%.
Bed Bath & Beyond led the charge early after a Bank of America analyst said it was now time to buy the stock, according to a CNBC report. Analyst Curtis Nagle focused on a recent short-term surge in the retailer's shares, and rated the stock a buy now that it has retraced from the early June pop.
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Source Fool.com
