Theories about a possible rescue of the furniture store are circulating in online forums. That moves the stock.
(Photo: AP)
Dusseldorf As of May 3, Bed Bath & Beyond (BBBY) stock is no longer tradable on major US exchanges. Eventually, the furniture store filed for bankruptcy and was subsequently delisted. However, this does not prevent investors from actively trading in the share.
Since then, more than 25 million BBBY shares have been traded over-the-counter every day, according to data from the financial service Refinitiv. That corresponds to a turnover of around 220 million dollars. The Financial Times (FT) first reported on it.
The trading activities are surprising for experts, they are reminded of the hype surrounding meme stocks in 2021. Meme stocks are stocks that are heavily promoted on social media platforms like Reddit. The best-known example is the computer games retailer Gamestop, where private investors agreed to make purchases in forums and drove the share price up by several hundred percent.
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