Why Bed Bath & Beyond Stock Was Sliding This Week
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were sliding today after Goldman Sachs slammed the stock, saying it was worth just $2 a share. The negative commentary comes after the struggling home furnishings retailer released another disappointing earnings report last week.
As of 12:01 p.m. ET, Bed Bath & Beyond stock was down 2.8% even as the S&P 500 had gained 2% as investors started off the fourth quarter on an optimistic note.
Goldman Sachs analyst Kate McShane reiterated her sell rating and $2 price target following the company's most recent earnings report. That target implies a two-thirds decline in the stock from the current price.
Source Fool.com
