After rising by 73% between February 23 and March 8, the Bed bath & beyond stock has shed over 12% in the past seven days.
The current dip is attributed to the poor performance of Bed Bath & Beyond’s business. Its sales dropped by about in its last quarter’s report. While the company’s CEO admitted that their current situation is not where it would want to be, the company is facing challenges in supply chains, competition from smaller specialty retail stores, and rising prices as a result of inflation.
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Nevertheless, analysts still believe the stock is poised for a major take-off in a follow-up to what took place towards the end of February and the start of this month.
To help stock traders eying to invest in the Bed bath & beyond stock, Invezz has created a brief article on what it is and the best places to trade it.
To find out more, please continue reading.
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Bed bath & beyond stock is the stock of Bed Bath & Beyond Inc. and it trades on the NASDAQ Stock Exchange under the symbol NASDAQ: BBBY.
Bed Bath & Beyond Inc. is an American chain of domestic merchandise retail stores that specializes in baby products and home items.
Bed Bath & Beyond operates stores in the United States, Mexico, Puerto Rico, and Canada.
If you want to invest in a major US specialty retail store, then buying the BBBY stock could be a good option.
Nevertheless, the company has to do more to stay at the top among its competitors, especially at such a time when inflation is at a 40-years high.
The majority of investors and analysts expect Bed bath & beyond stock (NASDAQ: BBBY) to rebound any time from now. Majority have set their eyes on a price target of around $22 by the end of March.
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