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Why Bed Bath & Beyond Tumbled 20% This Week

·2 min read
Why Bed Bath & Beyond Tumbled 20% This Week
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Shares of Bed Bath & Beyond (NASDAQ: BBBY) tanked 20.1% this week compared to where they ended last week, according to data from S&P Global Market Intelligence. Loop Capital analyst Anthony Chukumba said investors ought to "begin to seriously consider 'endgame' scenarios" and reiterated his sell rating on the stock and $5 price target. Chukumba believes with worsening macroeconomic headwinds, a deteriorating financial position, and it being "highly unlikely" activist investor Ryan Cohen will prove to be the chain's "savior," the only out for Bed Bath & Beyond will be to sell the buybuy Baby chain and file for Chapter 11 bankruptcy protection.