2 months ago

Bed Bath & Beyond Rides ‘Meme Mania’ to Huge Rally on Wall Street

Cheddar News
Cheddar News
Cheddar News reporter Alex Vuocolo joined Closing Bell to break down Bed Bath & Beyond feeling the “meme mania” en route to a big rally on Wall Street, finishing up nearly 40%. “I think one thing that's clear from this latest rally is there was a single Reddit user who said they'd take out a $27,000 loan and were going all in on Bed Bath & Beyond, which generated a lot of excitement," Vuocolo said. "Mentions of the stock are way up, I think about 250% in the past 24 hours … and it's a familiar story. You had a heavily shorted stock that is now seeing a lot of buying volume and the prices are just going up and up now.”