Why Bed Bath & Beyond Stock Jumped This Week
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were on a roller-coaster ride this week. A short squeeze propelled the stock higher earlier in the week, but the momentum faded after Ryan Cohen's investment firm filed to sell its stake in the struggling home furnishings retailer.
According to data from S&P Global Market Intelligence, Bed Bath and Beyond had gained 38.5% for the week through 1:16 p.m. ET on Thursday.
Through Wednesday, Bed Bath & Beyond had gained in 14 out of 15 sessions as the heavily shorted meme stock attracted attention on Reddit's WallStreetBets forum and traders piled into it this week, pumping up the price on high volume.
Source Fool.com
