Bed Bath & Beyond (BBBY.US) stock jumped more than 10% despite the fact that the household retailer posted mixed quarterly figures. Company earned 5 cents per share, while analysts expected earnings of 8 cents per share, still this is a positive change from the company’s loss in the fiscal first quarter of 2020. Revenue beat market expectations. Bed Bath & Beyond predicted better-than-expected current-quarter comparable sales, and raised its full-year revenue outlook. However, later in the session price erased most of today's gains, suggesting that some of the increase may be caused by Reddit investors who took an interest in the company's stock earlier this year.
Bed Bath & Beyond (BBBY.US) which is considered as one of the "meme" stocks surged during today's session, however buyers failed to uphold momentum and price pulled back towards major support at $30.75 which is marked by 61.8 Fibonacci retracement of the recent upward wave and 50 SMA (green line). Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
