During the first half of 2022, shares of Bed Bath & Beyond (NASDAQ: BBBY) lost two-thirds of their value, as the home furnishings chain's sales tumbled, leading to big losses.
However, the meme stock craze has brought Bed Bath & Beyond stock back to life this month. After ending July around $5, the shares have more than tripled so far in August, closing at $16 on Monday.
This meme stock rally represents a great opportunity for Bed Bath & Beyond shareholders to cut their losses (or even pocket some gains!) and sell. The short squeeze driving this month's rally won't last long. Once it peters out, Bed Bath & Beyond stock will probably give up most of its recent gains.
For further details see:
Don't Touch This Meme Stock After a 218% Surge