Towards the end of January, a Reddit community known as WallStreetBets rose to prominence. They were responsible for a phenomenon known as a short squeeze, which led to an exponential price surge for numerous stocks. One of those stocks was Bed Bath & Beyond (NASDAQ: BBBY), and now, 6 months on, the company has shot up in value once again.
Thanks to this dramatic price movement, many investors have been trying to find out where to buy BBBY shares.
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The best place to buy Bed Bath & Beyond stock is a reliable stockbroker with low fees. Broker are services that enable you to control your entire investment portfolio from an online interface, and many now also have connected mobile apps so you can invest in Bed Bath & Beyond shares while on the move.
So, without further ado, here are the two best Bed Bath and Beyond trading platforms:
You can’t go wrong with one of the world’s most reputable online brokers. Etoro is a reliable, easy-to-use platform that offers exposure to cryptocurrencies, forex, commodities and stocks like Bed Bath and Beyond.
Plus500 is an increasingly popular trading platform that offers various different instruments. If you would like to use CFDs to invest, Plus500 is the service for you.
For more top options, check out our list of 2021’s top ten best stockbrokers and trading platforms. In addition, if you still confused about how to buy BBBY stock and you need a more in-depth explanation, check out our beginners’ guide.
Founded in 1971 and headquartered in New Jersey, US, Bed Bath & Beyond Inc. is an American retail chain that offers domestic merchandise such as furniture, appliances and decorative goods.
As part of the Fortune 500 and Forbes Global 2000, BBBY has around 1,500 locations dotted across the US, Canada and Mexico. With over 50,000 employees, BBBY generates over $10 billion in annual revenue.
Because of an event known as a short squeeze in which hedge funds and other major financial institutions are forced to buy shares in a company at rapidly increasing prices to cover their short (sell) positions.
That depends on what you are looking for from your investment. Right now, the fundamentals for BBBY aren’t the focus; instead, a short squeeze dynamic as taken precedence, which is likely to lead to increased volatilty in the short term.
If you don’t want to invest in an unstable stock, Bed Bath & Beyond probably isn’t for you right now, whereas if you appreciate the prospects of increased risks and potential rewards, buying in now could be a smart move.
Right now, this seems unlikely. However, if the dramatic ascent of both GameStop and AMC Entertainment has demonstrated one thing in particular, it’s that in this market, anything seems possible.
BBBY is trading at just over $43 right now, and we would need to see a meaningful push for it to significantly exceed its year-high of $53 in January. Just make sure you keep an eye on the market because if it moves, it will do so very quickly.
Given the unique ‘meme stock’ market dynamics currently surrounding the company, it is very difficult to provide a BBBY price target. In fact, many analysts feel the stock is substantially overvalued, though they said the exact same thing about GME and AMC and look how that is panning out…
For more on Bed Bath and Beyond and other hot stocks, check out our news.
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