Bed Bath is headed into the great beyond. So, what can investors expect moving forward?Ī reverse split will buy management time to negotiate an orderly sale of the company, but investors should be under no misapprehension. This past February’s price spike seems to have been the last. Investors could have gotten out for $22 per share last March and around $13 last September. The fall of Bed Bath & Beyond stock was marked by several efforts to engineer another squeeze. At the height of the mania, BBBY stock traded for more than $35 per share. Small investors piled into a short-squeeze trade. Meanwhile, in 2021, BBBY became a meme stock. As the new CEO, Gove tried to resurrect the old model against a backdrop of collapsed consumer confidence, closing stores and selling or shuttering subsidiaries. Tritton was let go last June, replaced by board member Sue Gove. Sales collapsed as the company rolled out new stores. The stock paid its last dividend - 17 cents per share - in early 2020.īut the turnaround plan failed. Under CEO Mark Tritton, Bed Bath sought to become a curated retailer of high-quality store brands. The company was founded to sell brand-name home goods at a discount. Bed Bath & Beyond tried to reinvent itself before the Covid-19 pandemic.
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