8/8, 4:44 PM (Source: TeleTrader)
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Bed Bath & Beyond soars 40% amid 'meme' stock rally

Shares of Bed Bath & Beyond soared over 40% on Monday as the so-called "meme stocks" soared once again in early trading.

Since early 2021, companies including Bed Bath & Beyond, AMC Entertainment Holdings Inc. and GameStop Corp. have experienced high volatility as retail traders used them to cause a short squeeze by cooperating on social media to drive the price of their stock up, forcing hedge funds were forced to sell their positions to cover their shorts.

Bed Bath & Beyond skyrocketed 41.73% to $11.47 at 10:38 am ET, AMC rallied 14.25% and GameStop was up 9.34% at the same time.

Baha Breaking News (BBN) / NP