Bed Bath & Beyond Inc. (NASDAQ:BBBY) surged42.28%in premarket trading on Monday to $11.61 after gaining 32.68% on Friday.
The stock may still be in a short squeeze as the high level of short interest on the name gets sorted out.
Shares are still well below their meme-inspired levels from a year ago. The 52-week trading range for BBBY is $4.39 to $30.14.
On the fundamental side of things, BBBY is expected to post a loss when it reports earnings late in September. Beyond the frenzied trading of late, Seeking Alpha author Richard Williams pitched the bull case last month on BBBY with the retailer said to be finally capturing the benefits of its prior CEO’s strategic plan to reposition the retailer from branded offerings into white-label products with higher margins.
BBBY is up for the ninth session in a row and has gained more than 75% over that stretch. Bed Bath & Beyond was one of the stocks called out in Seeking Alpha's Catalyst Watch this week for expected volatility.
