Bed Bath & Beyond stock up 300 percent

Bed Bath & Beyond

Analysts’ target price for the retailer’s stock is $3, up from a price above $20.

(Photo: Reuters)

Dusseldorf Meme stocks are back. As in spring 2021, the prices of the shares in the computer games retailer Gamestop and the cinema operator AMC Entertainment are rising on the US stock exchanges. With around 40 and more than 80 percent since the beginning of July, their gains seem downright modest compared to Bed Bath & Beyond. Here it is more than 300 percent.

Tuesday was the third straight day that shares of the company, which sells household, bathroom, bedroom and living room equipment, rose 20 percent or more. On Wednesday it was up another 30 percent at the start.

Several analysts have lowered their ratings in the past few days: The average price target is currently three dollars. That represents an 85 percent downside potential from Tuesday’s close of $20.65. The analyst Susan Anderson from B. Riley speaks of an “unrealistic valuation”.

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