Another Pump-and-Dump Meme Stock Ends in Dumpster of Reality: Bed Bath & Beyond Goes Back to Heck

by Wolf Richter
Wolf Street

Hit by the brick-and-mortar meltdown years ago, it attracted short sellers, which attracted meme stock traders, which blew up the short sellers, and then each other.

Bed Bath & Beyond has become another imploded meme stock. Meme stocks are a phenomenon that will go down in history as one of the grandest, most dazzling, most media-savvy pump-and-dump schemes that peaked in January and early February of 2021 – yes that infamous February 2021, when the stock market came unglued beneath the surface.

Today, Bed Bath & Beyond [BBBY] reported earnings and fired its CEO that had coddled up to the meme stock crowd. And its shares, after having already plunged in recent months, plunged by another 24% to $4.99 at the close.

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