Bed Bath & Beyond jumps 68% to lead last gasp rally in meme stocks; AMC gains 21%
Publishing timestamp: 2023-01-11 15:56:29
Summary
A group of highly speculative stocks rallied double digits on Wednesday as retail investors pushed meme names up again in new year after dismal 2022. Bed Bath & Beyond skyrocketed 68.6%, while GameStop and AMC Entertainment climbed more than 7% and 21%, respectively. The rally was triggered by news that Bed Bath & Beyond would lay off more employees in attempt to reduce costs and stay in business. Short interest in these names remains much higher than average, which could lead to a short squeeze if the stocks continue to rally.
Sentiment: MIXED
Keywords: gamestop corp, investment strategy, stock markets, breaking news: investing, amc entertainment holdings inc, wall street, business news, markets, bed bath & beyond inc, breaking news: business, breaking news: markets,