Bulletin Empire
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate
Bulletin Empire
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate
No Result
View All Result
Bulletin Empire
No Result
View All Result

Another meme stock falls: Bed Bath & Beyond shares take a hit

Logan by Logan
August 31, 2022
in Stock Markets
0
Another meme stock falls: Bed Bath & Beyond shares take a hit

Image Source- Shutterstock

399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

The retailer turned meme stock Bed Bath & Beyond announced in a filing that it would sell shares in an undisclosed amount, which caused a decline in the company’s share price.

In premarket trade, the shares decreased 19%.

“We may offer, issue and sell shares of our common stock from time to time,” in a filing to the SEC on Wednesday, the business made a statement. The company may sell the securities listed in one or more offers using the shelf method.

“Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the document stated.

The document also states that the business intends to use any net revenues from the sale of securities for “general corporate purposes,” which could include paying off debt, financing potential acquisitions, or share repurchases.

Image Source- Getty Images

Incoming turnaround strategy

The filing was made just hours before Bed Bath & Beyond was scheduled to reveal its Wednesday turnaround strategy in an effort to regain the trust of customers, investors, and suppliers. In order to obtain urgently required funds, several investors have urged the shop to take advantage of its status as a meme by issuing stock.

The business had previously stated that it was collaborating with lenders and financial experts to improve its balance sheet. The retailer’s net loss increased in the most recent quarter, and as of the end of May, it had less cash than it did at the same time last year ($100 million against $1.1 billion).

It might also be in the midst of obtaining a loan; according to a Wall Street Journal report from last week, the company and asset management Sixth Street Partners are close to finalizing the conditions of a loan worth roughly $400 million.

In addition to disclosing its financial situation, the business might also talk about its strategies for retaining customers, resolving supply chain problems, and moving inventories. Investors are particularly interested in learning more about a possible sale or spinoff of the company’s Buybuy Baby brand.

Runup of meme stocks

Shares of Bed Bath & Beyond rose in August as the ailing and severely shorted business attracted more risk-taking from so-called meme traders as a result of the general market recovery. The stock’s movement accelerated over the course of the month as tiny traders praised the stock on Reddit message boards and hedge firms were compelled to cover their wagers against it.

After activist investor Ryan Cohen liquidated his big investment in Bed Bath & Beyond, the stock fell from its highs and the enthusiasm of meme traders was somewhat dampened. The stock was still up more than 140% this month as of Tuesday’s close.

Tags: BBBYBed Bath & BeyondBed Bath & Beyond is expected to outline a turnaround planBed Bath & Beyond SharesBed Bath & Beyond shares craterBed Bath & Beyond shares droppedBed Bath & Beyond shares surgedBed Bath & Beyond shares take a hitfinancing possible acquisitionsgeneral corporate purposeshow it plans to lure back shoppersinvestors and suppliersInvestors are also awaiting more informationissuing stock to raise much-needed cashmeme stockMeme stock runuprepaying debtretailer to capitalize on its meme statusRyan Cohen sold his sizable position in Bed Bath & Beyondshares fell 19% in premarket tradingshares of an undisclosed amountshore up issues with its supply chain and move inventorySixth StreetThe Wall Street JournalTurnaround plan incomingwin back the confidence of shoppersworking with financial advisors and lenders to strengthen its balance sheet
Previous Post

Gatik’s new pilot program with Pitney Bowes is a Huge Win

Next Post

Nvidia’s Stock Plunge: What Happened and What’s Next?

Next Post
Nvidia’s Stock Plunge: What Happened and What’s Next?

Nvidia's Stock Plunge: What Happened and What's Next?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

3 Smart Steps to Take If You Have $1,000 in the Bank
Make Money

3 Smart Steps to Take If You Have $1,000 in the Bank

by Logan
October 20, 2022
0

You're missing out if you keep a lot of money in your bank account. A significant accomplishment is amassing $1,000...

Read more
8 Legit Ways to Make Extra Cash

8 Legit Ways to Make Extra Cash

October 20, 2022

Category

  • Arts
  • Business
  • Economy
  • Entertainment
  • Finance
  • Lifestyle
  • Make Money
  • Politics
  • Real Estate
  • Science
  • Sports
  • Stock Markets
  • Technology
  • Uncategorized
  • World

Follow Us

  • Contact Us
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms & Conditions

© 2022 Bulletin Empire - All rights reserved by Bulletin Empire.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate

© 2022 Bulletin Empire - All rights reserved by Bulletin Empire.