[ad_1]
Shares of Bed Bath & Beyond Inc.
BBBY,
bounced 1.1% in premarket trading Friday, putting them on track for their first gain in nine sessions. The home goods retailer’s stock had plummeted 69.3% amid an 8-session losing streak through Thursday, which was so far the longest losing streak since the 9-day stretch that ended Nov. 7, 2022. The loss streak had started the day after it rocketed 92.1% on Feb. 6, despite growing concerns of a bankruptcy, and after the company announced an equity raise. Despite the resumed selloff, the stock closed Thursday 37.4% above the Jan. 6 close of $1.31, which was the lowest closing price since August 1992. The stock has plunged 88.1% over the past 12 months, while the SPDR S&P Retail exchange-traded fund
XRT,
has declined 9.6% and the S&P 500
SPX,
has lost 6.6%.
[ad_2]
Source link
