Bed Bath & Beyond Stock Gained On M&A Speculation And Meme Stock Frenzy: Report

Bed Bath & Beyond Inc. BBBY rose sharply in high-volume trading on Monday on speculation of a potential acquisition.
The retail investors thought the retailer might be a potential acquisition target, Reuters reported.
The report added that online retail stock platforms, including Reddit, have been speculating about a possible M&A deal, leading to a buying frenzy like the 2020 meme stock phenomenon.
BBBY stock lost nearly half its value last week after the company warned of operational difficulty.
The retailer had said it is exploring strategic options, including bankruptcy.
The company anticipated a Q3 net loss of approximately $(385.8) million versus a net loss of $(276.4) million in the year-ago period.
BBBY will report its results early on Tuesday.
Price Action: BBBY shares are trading higher by 5.56% at $1.71 in premarket on the last check Tuesday.
Photo Via Wikimedia Commons