Why Stocks Like Bed Bath & Beyond, National Beverage, and GSX Techedu Plummeted Today
Stock market volatility continued on Monday, with previously hot stocks like Bed Bath & Beyond, National Beverage, and GSX Techedu all plummeting to start the week. As of 1 p.m. EST, Bed Bath & Beyond stock was down 16%, National Beverage stock was down 16%, and GSX Techedu stock was down 9%. And it might be because short-squeeze mania is starting to cool off.
While many people probably already know, here's a quick recap of what's been going with GameStop stock over the past couple of weeks. More investors were betting against GameStop stock than any other stock on the market by selling shares short. But a group of retail investors noticed that, because short interest was over 100%, they could spark a massive short squeeze by buying shares of GameStop in concert. GameStop is a multibagger many times over so far in 2021. Therefore, the plan is working, at least for now.
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Source Fool.com
