Why Bed Bath & Beyond Stock Soared Today

Shares of Bed Bath & Beyond (NASDAQ: BBBY) surged on Thursday after interim CEO and director Sue Gove boosted her holdings in the struggling retailer. As of 11:55 a.m. ET, the stock price was up more than 25%.

Gove bought 50,000 shares at an average price of $4.61 per share on July 1, according to a regulatory filing posted late on Wednesday. The $230,500 purchase increased Gove's position to a total of 105,587 shares -- a stake that's currently valued at roughly $590,000.

Other board members also added to their Bed Bath & Beyond holdings. Harriet Edelman purchased 10,000 shares at an average price of $4.94. Jeff Kirwan, meanwhile, bought 10,000 shares at an average price of $4.90.

Source Fool.com