Retail punters set to boost Bed Bath & Beyond for the 10th straight day

micromobility.com

09/08/2022 11:57

** Shares of Bed Bath & Beyond  BBBY.O  up 4.6% to $11.93
premarket as the stock trended on online message boards
    ** Stock had closed at a three-month high on Monday,
notching a nine day winning streak
    ** By 11 a.m. ET on Monday, short sellers had mark-to-market
losses of about $111.7 mln in the rally, as per analytics firm
Ortex
    ** BBBY's turnover on Monday was $1.44 bln, the highest
since $2.4 bln on March 7, as per eikon Refinitiv data
    ** The company's ticker continued to trend on stocktwits.com
on Tuesday, a day after it was the fourth most-actively traded
stock in the prior session
    ** "The stock closed almost 40% higher last night even
though there was no actual news driving the move," said David
Madden, market analyst at Equiti Capital in London.
    ** "It is possible the bullish trend will continue. A
further rally from here could see it target $20.00. Should the
stock fall below the $8.00 region, it might find support at
$6.00," Madden said
    ** About 44% of BBBY's publicly available shares are
shorted, per Ortex
    ** BBBY down nearly 80% in value in the past year

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))