Why Shares of Bed Bath & Beyond Are Soaring Today
The reason appears to be tied to WallStreetBets, a Reddit discussion community that is also credited with giving a boost to GameStop (NYSE: GME) and a number of other stocks. Bed Bath & Beyond fits the profile of a stock that would attract WallStreetBets' attention because it has a substantial short interest, or investors betting against the stock. Analysts at Loop Capital on Monday did raise their price target for Bed Bath & Beyond shares to $30, from $18, keeping a hold rating on the shares.
