Why Bed Bath & Beyond Stock Dropped 12% This Week
Bed Bath & Beyond (NASDAQ: BBBY) shareholders lost ground to the market this week as shares fell more than 12% compared to a 1% decrease in the S&P 500. The specialty retailer was snared in a broader move by investors out of meme stocks and away from the retailing sector on fears of another COVID-19 wave.
The decline started on Monday, when Bed Bath & Beyond fell along with several other meme stocks. Buying interest in this group has waned in recent weeks as investors seek relative safety in more stable growers.
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Source Fool.com