BBBY - Bed Bath & Beyond showers in red in premarket trade rescue funding at risk
2023-03-20 08:33:10 ET
- Bed Bath & Beyond ( NASDAQ: BBBY ) trades 13.8% down in early premarket trade placing the financing deal at risk.
- This comes amid the company looking for a reverse stock split and shares getting booted from the S&P SmallCap 600 Index.
- On market open today, the stock will be replaced by Lumen Technologies in SML Index.
- The company is looking for shareholder approval for a reverse stock split at a ratio in the range of 1-for-5 to 1- for-10, with such ratio to be determined at board's discretion.
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Bed Bath & Beyond showers in red in premarket trade, rescue funding at risk