Bed Bath & Beyond closes nearly 40% higher, AMC surges as meme chatter on message boards increases
In this article BBBY A view of a Bed Bath and Beyond store in Daly City, California. Justin Sullivan | Getty Images Bed Bath & Beyond and AMC Entertainment surged Monday as meme traders seemed to be betting on the stock despite the lack of any apparent catalyst for the move. Shares of both heavily shorted stocks closed up nearly 40% and 8%, respectively. GameStop also climbed 8.6%. At one point in the session, Bed Bath & Beyond shares soared as much as 63%. Bed Bath & Beyond shares posted their biggest one-day gain in more than a year. As of midday Monday, Bed Bath & Beyond was the most searched name on Reddit's WallStreetBets discussion board, according to Quiver Quantitative. Users under a pinned thread titled "GME, BBBY and AMC Memestock Megathread for Monday August 8th, 2022" appeared to be buying up shares of the retail stock. Loading chart... One user said they "took out a 27k loan, went all in on BBY," which a group moderator seemed to c...