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Aug. 18, 2022, 10:47 a.m. EDT

Bed Bath and Beyond stock suffering third worst day in its 30-year history

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By Tomi Kilgore

Shares of Bed Bath & Beyond Inc. /zigman2/quotes/209801102/composite BBBY +0.16% were plunging Thursday toward their worst one-day performance in over a year, after a large investor in the meme stock -- GameStop Corp. Chairman Ryan Cohen -- disclosed plans to sell off their stake. The stock was down 25.0% in morning trading, putting them on track for the biggest decline since it sank 27.8% on June 3, 2021. The home-goods retailer's stock is also headed for the third-biggest decline since it went public in June 1992; at the top of the list is the record 36.4% drop on Jan. 28, 2021. Other meme stocks were also pulling back, with shares of AMC Entertainment Holdings Inc. /zigman2/quotes/200235402/composite AMC +9.08% down 5.0% and GameStop /zigman2/quotes/203755179/composite GME +6.74% shedding 6.1% in morning trading. Meanwhile, the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.21% was up 0.1%.

/zigman2/quotes/209801102/composite
US : U.S.: Nasdaq
$ 6.38
+0.01 +0.16%
Volume: 7.91M
Sept. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$509.33 million
Rev. per Employee
$230,543
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/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 7.45
+0.62 +9.08%
Volume: 33.36M
Sept. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.57 billion
Rev. per Employee
$124,591
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 26.13
+1.65 +6.74%
Volume: 4.49M
Sept. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$7.45 billion
Rev. per Employee
$505,408
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/zigman2/quotes/210599714/realtime
US : S&P US
3,647.29
-7.75 -0.21%
Volume: 2.22B
Sept. 27, 2022 5:18p
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