The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. While it is easy to underestimate the staying power of meme stocks, the path forward for BBBY is hazy to say the least.Īccording to Wedbush analyst Seth Basham, the company may well be on the way to bankruptcy. Currently shares are trading for $9.24, a level many analysts believe is still too high.īed Bath & Beyond remains a cautionary tale. As investors have abandoned the company en masse, its funding and liquidity issues have become even more apparent.īBBY has floated off of its overextended share price for quite some time. In late June, the retailer announced net sales were down 25%, with negative cash flow of $400,000. As such, with his departure, it’s no surprise to see many investors lose faith.īed Bath & Beyond’s tumble has put a spotlight on the company’s recent failures.
Many hoped Cohen, the founder of Chewy (NYSE: CHWY) and current GameStop (NYSE: GME) chairman would return the company to generating cash. Many believed Cohen’s stake was a positive sign. This is clearly reflected in the BBBY stock price. Unfortunately for fans, Cohen’s sale sparked a massive selloff. Indeed, last week, Ryan Cohen sold his 11.8% stake in the volatile meme stock. It’s truly the icing on top of the meme cake that BBBY has constructed. At Bed Bath & Beyond you will find seasonal, gifts, bedding, bath, kitchen, kitchen electrics, cookware, cutlery, fine dining/gift ware, casual dining. According to Bloomberg, several creditors have revoked coverage of BBBY, leading the company to fall behind on payments for its inventory. It appears Bed Bath & Beyond is continued its plunge following reports that some of the home retailer’s suppliers have ceased shipping products due to non-payment.
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To be eligible for free delivery from Bed Bath & Beyond, your order total must be more. Free shipping from Bed Bath & Beyond is available on certain orders. With a large selection of must-have home furnishings from top brands, such as bedding, cookware, electronics and more, Bed Bath & Beyond takes the worry out of your wedding registry by guiding you through it step-by-step. Bed Bath & Beyond (NASDAQ: BBBY) stock continued its downward spiral Monday, losing 16% of its value following last week’s brutal selloff. Head to the Bed Bath & Beyond Clearance and Savings section to find individual items from all departments marked down up to 75 off the list price. Bed Bath & Beyond serves as a one-stop store for creating custom wedding registries conveniently and easily.
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