marketwatch.com/story/bed-bath-beyond-stock-set-to-snap-longest-win-streak-in-15-years-after-baird-analyst-suggests-its-time-to-sell-11660058841
Shares of Bed Bath & Beyond Inc. tumbled 18.0% in afternoon trading Tuesday. The latest ‘meme’ rally comes as the home goods company continues to wrestle with revenue issues and falling stock prices. The company’s CEO, Justin Kleber, suggested investors sell on Tuesday.

Baird’s Kleber downgrades Bed Bath & Beyond to underperform. The company also announced the ouster of chief executive officer Mark Tritton. “Shares have surged 148% since July 27, including +86% the past two trading days,” Kleber wrote.

Bed Bath & Beyond’s liquidity is increasingly in focus, according to the analyst. “This frenzied move (>100% of the public float traded on Monday) has been driven by non-fundamentally focused market participants,” Kleber wrote.

More than half (10) of the 19 analysts surveyed by FactSet have the equivalent of sell ratings on Bed Bath & Beyond’s stock. AMC shares slid 6.2% in afternoon trading Tuesday, after soaring 64.6% amid a six-day win streak through Monday.

The movie theater operator had announced last week that it will issue a special “APE” dividend. GameStop’s stock dropped 6.9% Tuesday, after running up 34.0% amid a nine-day win streak through Monday. That marked the longest win streak since it shot up 55.9%.
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