Bed Bath and Beyond: From Meme to Has Been
Tim Knight | Nov 29, 2022 02:06AM ET
In one of the most bizarre moments of an incredibly bizarre few years, the last gasp of the Covid cash insanity was experienced with Bed Bath & Beyond (NASDAQ:BBBY). Just over three months ago, based on nothing more than the wsb boys saying that they were going to squeeze BBBY to the moon, the stock spiked to $30 on volume of hundreds of millions of shares. As you can see, that was the peak of the counter-trend rally for the market overall (appropriately enough) and the stock is now down 90% (!!!!!!!!!) and trades just about 1% of the volume it did back during the mania.
In other words, BBBY now is the same price it was……three decades ago.
People from the future are required to laugh at us. It was all so dumb.
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