Why Bed Bath & Beyond Stock Fell Today
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were slipping again today as investors continued to bet against the stock in the face of the COVID-19 coronavirus outbreak.
During a volatile day for stocks, the home goods retailer was briefly in positive territory as investors cheered the Federal Reserve's decision to cut interest rates this morning. But stocks plummeted in afternoon trading as reports of the virus spreading throughout the U.S. continued to emerge, and investors braced for further economic impact in spite of the rate cut.
Bed Bath & Beyond, which is seen as one of the weaker retailers on the market, fell as much as 6.8%, and finished the day down 4.1%. By comparison, the S&P 500 closed the session off 2.8%.
Source Fool.com
