Bed Bath & Beyond shares continue to trade at enormous volumes even as the wildly popular meme stock appears weeks away from being declared worthless.
In its subsequent bankruptcy plan published on July 20, the company confirmed that"in full and final satisfaction of each Allowed Interest in BBB, each allowed interest in BBB shall be canceled, released, and extinguished, and will be of no further force or effect, and no Holder of Interests in BBB shall be entitled to any recovery or distribution under the Plan on account of such interests.
This would suggest that the current vast swathes of investors trading in the company's stock may be doing so purely on doomed speculation, and will be left empty handed.'s stock is down more than 91% since the turn of the year and closed Wednesday's trade at $0.21 per share. Though the timing of the cancelation of the common stock has yet to be confirmed, it seems retail traders are going to see their investments disappear down the plughole.
Michael Pachter, managing director of equity research at Wedbush Securities, told CNBC Wednesday that it is seeing increased downloads of the Bed Bath & Beyond app since the rebrand launched at the start of the month, with the app moving from the bottom half of the top 100 download list to the top quartile.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BuyBuy Baby and Harmon set to reopen stores after Bed Bath & Beyond breakupThey are anticipated to open this year, although exact dates haven’t been determined
Read more »
Oceanside finishes city's first year-round, 50-bed homeless shelterCommunity leaders celebrate completion of navigation center; first clients expected in a few more weeks
Read more »
Beyond Eyes: This Fish Can See With Its SkinNow researchers think they know why. Several years back, during a fishing expedition in the Florida Keys, biologist Lori Schweikert came face to face with an unusual quick-change act. She caught a pointy-snouted reef fish known as a hogfish and placed it on her boat's deck. However, when she later
Read more »
New Jersey man admits to slamming door on girlfriend's cat, breaking its limbs 'beyond repair'A 28-year-old New Jersey man who admitted to intentionally slamming the door on his girlfriend's cat several times, breaking all its limbs, could go to prison for years.
Read more »
Batman Beyond's New Sidekick Fixes the Bat-Family's Biggest WeaknessBatman's Catboi companion adds magic into the mix.
Read more »
WTI Price Analysis: Oil buyers stay hopeful beyond $77.80 despite pullback from 13-day-old resistanceWTI crude oil remains mildly offered near $79.80 as it takes a U-turn from a two-week-old resistance line to print the first daily loss in three headi
Read more »